For the third time this month, Richard Blum , of San Francisco-based Blum Capital Partners, reduced his stake in Career Education Corporation's ( CECO ) by 1.79% on March 11, 2013. He had reduced his CECO shares by 6.44% on March 4, 2013, then again by 10.41% on March 7. After his latest trade, Blum holds current shares of 10,989,211. CECO's current price is $2.60, with a change from average down 2%. Amidst a swarm of litigation, investigations and inquiries, CECO stakes have been dropped or significantly reduced by a number of other investor Gurus starting last fall, including Jeff Auxier , Joel Greenblatt, Chuck Royce , Paul Tudor Jones and Steven Cohen.
See a detailed analysis of CECO.
GuruFocus performed a thorough financial and performance checkup on CECO and discovered two severe warning signs: The company has a Piotroski F-Score of 2, which usually implies poor business operations, and its operating margin has been in a five-year decline. Good signs for CECO are that the company has enough cash to cover its debt; the CECO price ($2.66) is close to its 10-year low of $2.65. The company's P/B ratio (0.29) is close to its 10-year low of 0.27, and the P/S (0.1) is also close to its 10-year low of 0.1.
Compare CECO and its competitors here.
As of Dec. 31, 2012, Blum Capital Partners held 10 stocks with a total value of $6.2 billion. The company's portfolio shows a large real estate sector weighting of 48.5%. Blum achieved among the highest average return over 12 months in 2012, at 55.2%, according to the GuruFocus Score Board of Gurus.
Here's the latest summary of Blum's top buys, top sells and top holdings.
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