Envestnet Asset Management Inc. raised its position in Grand Canyon Education, Inc. (NASDAQ:LOPE – Free Report) by 124.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 512,443 shares of the company’s stock after purchasing an additional 284,341 shares during the period. Envestnet Asset Management Inc. owned 1.67% of Grand Canyon Education worth $22,214,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its holdings in Grand Canyon Education by 160.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 300 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the period. Belpointe Asset Management LLC bought a new position in Grand Canyon Education during the fourth quarter worth $39,000. Ronald Blue Trust Inc. grew its holdings in Grand Canyon Education by 237.6% in the first quarter. Ronald Blue Trust Inc. now owns 574 shares of the company’s stock worth $61,000 after purchasing an additional 404 shares during the period. Simplex Trading LLC bought a new stake in Grand Canyon Education in the fourth quarter valued at $106,000. Finally, Globeflex Capital L P bought a new position in shares of Grand Canyon Education during the 4th quarter worth about $106,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently commented on LOPE. Barrington Research restated an “outperform” rating and set a $140.00 price objective on shares of Grand Canyon Education in a report on Friday, August 4th. StockNews.com assumed coverage on shares of Grand Canyon Education in a report on Thursday, August 17th. They set a “hold” rating for the company.
Grand Canyon Education Trading Up 0.9 %
NASDAQ LOPE opened at $117.25 on Friday. The business has a fifty day simple moving average of $108.43 and a 200 day simple moving average of $110.29. Grand Canyon Education, Inc. has a 12 month low of $78.37 and a 12 month high of $124.53. The firm has a market capitalization of $3.55 billion, a P/E ratio of 19.03, a PEG ratio of 1.14 and a beta of 0.60.
Grand Canyon Education (NASDAQ:LOPE – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. Grand Canyon Education had a net margin of 20.42% and a return on equity of 31.06%. The company had revenue of $210.58 million for the quarter, compared to analyst estimates of $208.09 million. During the same period last year, the firm earned $0.85 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Grand Canyon Education, Inc. will post 6.68 EPS for the current fiscal year.
Insider Transactions at Grand Canyon Education
In related news, Director Lisa Graham Keegan sold 540 shares of Grand Canyon Education stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $109.34, for a total transaction of $59,043.60. Following the sale, the director now directly owns 2,905 shares in the company, valued at $317,632.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Lori Browning sold 2,500 shares of the firm’s 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 in the company, valued at approximately $1,540,503.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lisa Graham Keegan sold 540 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were 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 approximately $317,632.70. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Grand Canyon Education Company Profile
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.
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