Public Employees Retirement Association of Colorado Decreases Stock Holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Posted by Defense World Staff on Jun 11th, 2023

Public Employees Retirement Association of Colorado decreased its position in Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,804 shares of the company’s stock after selling 1,028 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Grand Canyon Education were worth $508,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Van ECK Associates Corp grew its stake in shares of Grand Canyon Education by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 1,263 shares of the company’s stock worth $133,000 after purchasing an additional 100 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Grand Canyon Education by 0.6% in the fourth quarter. Yousif Capital Management LLC now owns 16,476 shares of the company’s stock valued at $1,741,000 after acquiring an additional 102 shares in the last quarter. Signaturefd LLC boosted its stake in Grand Canyon Education by 17.8% in the fourth quarter. Signaturefd LLC now owns 849 shares of the company’s stock valued at $90,000 after acquiring an additional 128 shares in the last quarter. Intech Investment Management LLC boosted its stake in Grand Canyon Education by 3.5% in the fourth quarter. Intech Investment Management LLC now owns 3,885 shares of the company’s stock valued at $410,000 after acquiring an additional 132 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Grand Canyon Education by 76.5% in the third quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock valued at $26,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

Grand Canyon Education Price Performance

LOPE stock opened at $105.89 on Friday. The company’s 50 day simple moving average is $112.03 and its 200-day simple moving average is $111.36. The firm has a market capitalization of $3.25 billion, a PE ratio of 17.65, a P/E/G ratio of 1.10 and a beta of 0.62. Grand Canyon Education, Inc. has a 12 month low of $78.37 and a 12 month high of $124.53.

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

Wall Street Analysts Forecast Growth

LOPE has been the subject of several research analyst reports. Barrington Research upped their price objective on shares of Grand Canyon Education from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 3rd. StockNews.com began coverage on shares of Grand Canyon Education in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, BMO Capital Markets upped 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 report on Tuesday, February 21st.

Insider Buying and Selling

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

Grand Canyon Education Company Profile

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Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company's technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.