Hood River Capital Management LLC lessened its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 15.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,466 shares of the company’s stock after selling 34,158 shares during the quarter. Hood River Capital Management LLC owned approximately 0.39% of Grand Canyon Education worth $14,542,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LOPE. BlackRock Inc. boosted its position in Grand Canyon Education by 73,121.4% during the 1st quarter. BlackRock Inc. now owns 2,817,560 shares of the company’s stock valued at $201,765,000 after acquiring an additional 2,813,712 shares in the last quarter. FMR LLC boosted its position in Grand Canyon Education by 36.9% during the 1st quarter. FMR LLC now owns 4,428,918 shares of the company’s stock valued at $317,155,000 after acquiring an additional 1,192,591 shares in the last quarter. William Blair Investment Management LLC boosted its position in Grand Canyon Education by 27.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,054,139 shares of the company’s stock valued at $161,065,000 after acquiring an additional 445,546 shares in the last quarter. Alliancebernstein L.P. boosted its position in Grand Canyon Education by 15.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,808,294 shares of the company’s stock valued at $141,788,000 after acquiring an additional 245,284 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Grand Canyon Education by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock valued at $270,343,000 after acquiring an additional 197,721 shares in the last quarter. 96.57% of the stock is currently owned by institutional investors and hedge funds.
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Grand Canyon Education, Inc. (NASDAQ:LOPE) traded up 1.19% during mid-day trading on Monday, hitting $86.18. The stock had a trading volume of 50,940 shares. The stock has a market cap of $4.07 billion, a P/E ratio of 23.79 and a beta of 1.40. The firm has a 50-day moving average of $80.56 and a 200-day moving average of $76.39. Grand Canyon Education, Inc. has a 52-week low of $39.68 and a 52-week high of $87.48.
Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Tuesday, August 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm had revenue of $218.30 million for the quarter, compared to analyst estimates of $213.08 million. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. Grand Canyon Education’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, analysts forecast that Grand Canyon Education, Inc. will post $3.83 EPS for the current fiscal year.
In related news, CEO Brian E. Mueller sold 29,788 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $77.12, for a total value of $2,297,250.56. Following the transaction, the chief executive officer now owns 311,312 shares of the company’s stock, valued at $24,008,381.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO William Stan Meyer sold 1,315 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $80.35, for a total value of $105,660.25. Following the completion of the transaction, the chief operating officer now directly owns 99,774 shares in the company, valued at approximately $8,016,840.90. The disclosure for this sale can be found here. Insiders sold 66,231 shares of company stock worth $5,128,139 in the last three months. 3.00% of the stock is currently owned by corporate insiders.
LOPE has been the subject of a number of recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $89.00 price objective (up previously from $85.00) on shares of Grand Canyon Education in a research report on Tuesday, August 8th. BidaskClub cut Grand Canyon Education from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Grand Canyon Education in a research report on Monday, September 18th. Finally, Zacks Investment Research raised Grand Canyon Education from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $79.80.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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