Fmr LLC Grows Stock Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Posted by Defense World Staff on Sep 3rd, 2023

Fmr LLC increased its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE – Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,147,908 shares of the company’s stock after buying an additional 74,349 shares during the quarter. Fmr LLC owned about 3.74% of Grand Canyon Education worth $130,747,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its position in Grand Canyon Education by 160.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 300 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares during the period. Belpointe Asset Management LLC purchased a new stake in Grand Canyon Education in the fourth quarter valued at approximately $39,000. Ronald Blue Trust Inc. raised its position in Grand Canyon Education by 237.6% in the first quarter. Ronald Blue Trust Inc. now owns 574 shares of the company’s stock valued at $61,000 after purchasing an additional 404 shares during the period. Globeflex Capital L P purchased a new stake in Grand Canyon Education in the fourth quarter valued at approximately $106,000. Finally, Simplex Trading LLC acquired a new position in shares of Grand Canyon Education in the fourth quarter worth $106,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Grand Canyon Education Trading Up 0.9 %

Shares of LOPE stock opened at $118.31 on Friday. The firm has a fifty day moving average price of $108.78 and a 200 day moving average price of $110.27. The company has a market cap of $3.58 billion, a P/E ratio of 19.21, a PEG ratio of 1.14 and a beta of 0.60. 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 Free Report) last issued 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 the consensus estimate of $208.09 million. Grand Canyon Education had a net margin of 20.42% and a return on equity of 31.06%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities analysts forecast that Grand Canyon Education, Inc. will post 6.68 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have commented on LOPE. StockNews.com began coverage on shares of Grand Canyon Education in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Barrington Research restated an “outperform” rating and issued a $140.00 price target on shares of Grand Canyon Education in a research note on Friday, August 4th.

Check Out Our Latest Report on LOPE

About Grand Canyon Education

(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.