Schwab Charles Investment Management Inc. increased its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,296 shares of the company’s stock after buying an additional 17,802 shares during the period. Schwab Charles Investment Management Inc. owned 0.50% of Grand Canyon Education worth $16,778,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Grand Canyon Education by 73,121.4% in the first quarter. BlackRock Inc. now owns 2,817,560 shares of the company’s stock worth $201,765,000 after buying an additional 2,813,712 shares during the period. William Blair Investment Management LLC raised its position in Grand Canyon Education by 1,271.1% in the first quarter. William Blair Investment Management LLC now owns 1,608,593 shares of the company’s stock worth $115,191,000 after buying an additional 1,491,274 shares during the period. FMR LLC raised its position in Grand Canyon Education by 36.9% in the first quarter. FMR LLC now owns 4,428,918 shares of the company’s stock worth $317,155,000 after buying an additional 1,192,591 shares during the period. Norges Bank bought a new position in Grand Canyon Education during the fourth quarter worth $13,319,000. Finally, Vanguard Group Inc. raised its position in Grand Canyon Education by 5.5% in the first quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock worth $270,343,000 after buying an additional 197,721 shares during the period. 97.59% of the stock is owned by institutional investors.
Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) opened at 77.74 on Wednesday. Grand Canyon Education, Inc. has a 12-month low of $39.07 and a 12-month high of $83.00. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 22.95 and a beta of 1.49. The firm has a 50 day moving average price of $78.80 and a 200-day moving average price of $68.24.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Thursday, May 4th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.01 by $0.11. Grand Canyon Education had a return on equity of 21.53% and a net margin of 17.97%. The firm had revenue of $248.20 million during the quarter, compared to analyst estimates of $244.64 million. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Grand Canyon Education, Inc. will post $3.66 earnings per share for the current fiscal year.
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A number of research analysts recently weighed in on LOPE shares. Zacks Investment Research lowered Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Barrington Research raised their price objective on Grand Canyon Education from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. ValuEngine raised Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $73.00 price objective (up previously from $69.00) on shares of Grand Canyon Education in a research report on Monday, March 20th. Finally, BidaskClub lowered Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $77.75.
In other news, insider Joseph N. Mildenhall sold 6,345 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $79.65, for a total transaction of $505,379.25. Following the completion of the sale, the insider now owns 96,728 shares in the company, valued at approximately $7,704,385.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack A. Henry sold 3,200 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $78.12, for a total value of $249,984.00. Following the sale, the director now owns 15,459 shares of the company’s stock, valued at approximately $1,207,657.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,461 shares of company stock valued at $15,462,932. Company insiders own 3.00% of the company’s stock.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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