Jupiter Asset Management Ltd. Reduces Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Jupiter Asset Management Ltd. decreased its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 1.3% during the 1st quarter, Holdings Channel reports. The firm owned 192,794 shares of the company’s stock after selling 2,509 shares during the period. Jupiter Asset Management Ltd.’s holdings in Grand Canyon Education were worth $26,260,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LOPE. Wealth Alliance grew its holdings in Grand Canyon Education by 3.9% in the 4th quarter. Wealth Alliance now owns 2,277 shares of the company’s stock worth $301,000 after acquiring an additional 85 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Grand Canyon Education by 4.8% during the fourth quarter. Intech Investment Management LLC now owns 2,078 shares of the company’s stock worth $274,000 after purchasing an additional 96 shares during the period. Riverwater Partners LLC grew its stake in shares of Grand Canyon Education by 0.9% in the first quarter. Riverwater Partners LLC now owns 12,716 shares of the company’s stock worth $1,732,000 after purchasing an additional 119 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Grand Canyon Education by 41.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 497 shares of the company’s stock valued at $66,000 after purchasing an additional 145 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Grand Canyon Education by 9.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,186 shares of the company’s stock valued at $289,000 after purchasing an additional 180 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LOPE. Robert W. Baird lifted their price objective on Grand Canyon Education from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. BMO Capital Markets lifted their price target on shares of Grand Canyon Education from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Finally, Barrington Research upped their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th.

Grand Canyon Education Trading Down 0.5 %

Shares of LOPE stock traded down $0.75 during midday trading on Friday, reaching $148.65. 145,432 shares of the stock were exchanged, compared to its average volume of 190,379. Grand Canyon Education, Inc. has a 1 year low of $106.64 and a 1 year high of $156.56. The firm has a market cap of $4.42 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.27 and a beta of 0.66. The company’s 50 day moving average is $142.30 and its two-hundred day moving average is $135.34.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.13. The company had revenue of $274.68 million for the quarter, compared to analysts’ expectations of $272.42 million. Grand Canyon Education had a return on equity of 31.81% and a net margin of 21.66%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 earnings per share. As a group, equities analysts expect that Grand Canyon Education, Inc. will post 7.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kathy J. Claypatch sold 1,500 shares of Grand Canyon Education stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $149.20, for a total transaction of $223,800.00. Following the completion of the transaction, the insider now directly owns 8,320 shares of the company’s stock, valued at approximately $1,241,344. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Kathy J. Claypatch sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $149.20, for a total transaction of $223,800.00. Following the completion of the transaction, the insider now owns 8,320 shares of the company’s stock, valued at approximately $1,241,344. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lisa Graham Keegan sold 270 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $147.96, for a total value of $39,949.20. Following the completion of the sale, the director now directly owns 2,635 shares in the company, valued at $389,874.60. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.