New York Life Investment Management LLC Sells 1,597 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Posted by Defense World Staff on Aug 16th, 2023

New York Life Investment Management LLC lessened its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE – Free Report) by 27.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,241 shares of the company’s stock after selling 1,597 shares during the quarter. New York Life Investment Management LLC’s holdings in Grand Canyon Education were worth $483,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Federated Hermes Inc. lifted its position in shares of Grand Canyon Education by 24.5% in the first quarter. Federated Hermes Inc. now owns 8,004 shares of the company’s stock worth $912,000 after purchasing an additional 1,573 shares in the last quarter. Assetmark Inc. lifted its position in shares of Grand Canyon Education by 351.7% in the first quarter. Assetmark Inc. now owns 3,912 shares of the company’s stock worth $446,000 after purchasing an additional 3,046 shares in the last quarter. Versor Investments LP bought a new stake in shares of Grand Canyon Education in the first quarter worth $211,000. Ifrah Financial Services Inc. bought a new stake in shares of Grand Canyon Education in the first quarter worth $237,000. Finally, Summit Global Investments acquired a new position in Grand Canyon Education during the first quarter worth $877,000. Institutional investors own 95.46% of the company’s stock.

Grand Canyon Education Stock Down 0.0 %

LOPE opened at $109.63 on Wednesday. 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 $106.06 and a 200 day simple moving average of $110.38. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.10 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.14. The firm had revenue of $210.58 million during the quarter, compared to analysts’ expectations of $208.09 million. Grand Canyon Education had a net margin of 20.42% and a return on equity of 31.06%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Sell-side analysts anticipate that Grand Canyon Education, Inc. will post 6.68 EPS for the current fiscal year.

Insider Activity at Grand Canyon Education

In other Grand Canyon Education news, CAO Lori Browning sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $112.75, for a total transaction of $281,875.00. Following the completion of the sale, the chief accounting officer now owns 13,663 shares of the company’s stock, valued at approximately $1,540,503.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Lori Browning sold 2,500 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $112.75, for a total value of $281,875.00. Following the transaction, the chief accounting officer now directly owns 13,663 shares in the company, valued at approximately $1,540,503.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lisa Graham Keegan sold 540 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $109.34, for a total value of $59,043.60. Following the completion of the transaction, the director now owns 2,905 shares in the company, valued at $317,632.70. The disclosure for this sale can be found here. Insiders sold a total of 5,540 shares of company stock worth $614,744 in the last quarter. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on LOPE. Barrington Research restated an “outperform” rating and set a $140.00 target price on shares of Grand Canyon Education in a report on Friday, August 4th. StockNews.com began coverage on shares of Grand Canyon Education in a report on Thursday, May 18th. They set a “hold” rating on the stock.

View Our Latest Report on Grand Canyon Education

Grand Canyon Education Profile

(Free Report)

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.