Cambridge Investment Research Advisors Inc. Buys 364 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Posted by on May 27th, 2023

Cambridge Investment Research Advisors Inc. lifted its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,254 shares of the company’s stock after acquiring an additional 364 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Grand Canyon Education were worth $449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Grand Canyon Education by 1.3% in the 1st quarter. BlackRock Inc. now owns 3,374,021 shares of the company’s stock valued at $327,650,000 after acquiring an additional 43,876 shares during the period. Vanguard Group Inc. raised its stake in Grand Canyon Education by 0.8% in the third quarter. Vanguard Group Inc. now owns 2,975,420 shares of the company’s stock valued at $244,729,000 after buying an additional 23,522 shares during the period. State Street Corp raised its stake in Grand Canyon Education by 3.9% in the first quarter. State Street Corp now owns 1,090,321 shares of the company’s stock valued at $105,881,000 after buying an additional 41,102 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Grand Canyon Education by 5.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 476,919 shares of the company’s stock worth $39,227,000 after acquiring an additional 25,286 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Grand Canyon Education by 6.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 326,275 shares of the company’s stock worth $31,685,000 after acquiring an additional 19,451 shares during the last quarter. Institutional investors own 96.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Grand Canyon Education from $125.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Barrington Research boosted their price objective on Grand Canyon Education from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 3rd. Finally, StockNews.com started coverage on Grand Canyon Education in a report on Thursday, May 18th. They set a “hold” rating for the company.

Insider Activity at Grand Canyon Education

In other Grand Canyon Education news, Director Jack A. Henry sold 2,500 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $109.53, for a total transaction of $273,825.00. Following the sale, the director now directly owns 15,493 shares in the company, valued at $1,696,948.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Jack A. Henry sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $109.53, for a total transaction of $273,825.00. Following the completion of the sale, the director now owns 15,493 shares of the company’s stock, valued at approximately $1,696,948.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathy J. Claypatch sold 1,500 shares of Grand Canyon Education stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $112.59, for a total transaction of $168,885.00. Following the completion of the transaction, the insider now directly owns 8,550 shares in the company, valued at $962,644.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Grand Canyon Education Stock Down 0.4 %

Shares of Grand Canyon Education stock opened at $106.11 on Friday. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.12 and a beta of 0.62. Grand Canyon Education, Inc. has a twelve month low of $78.37 and a twelve month high of $124.53. The company has a 50-day simple moving average of $113.06 and a two-hundred day simple moving average of $111.59.

Grand Canyon Education (NASDAQ:LOPE – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. The company had revenue of $250.13 million during the quarter, compared to the consensus estimate of $249.74 million. Grand Canyon Education had a net margin of 20.29% and a return on equity of 30.99%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 earnings per share. On average, sell-side analysts anticipate that Grand Canyon Education, Inc. will post 6.43 earnings per share for the current fiscal year.

Grand Canyon Education Profile

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Grand Canyon Education, Inc engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.

Further Reading

Institutional Ownership by Quarter for Grand Canyon Education (NASDAQ:LOPE)

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