Granahan Investment Management Inc. MA raised its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 20.8% during the first quarter, Holdings Channel reports. The fund owned 160,003 shares of the company’s stock after buying an additional 27,604 shares during the period. Grand Canyon Education accounts for approximately 1.1% of Granahan Investment Management Inc. MA’s portfolio, making the stock its 23rd largest position. Granahan Investment Management Inc. MA’s holdings in Grand Canyon Education were worth $11,458,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp increased its position in Grand Canyon Education by 10.8% in the first quarter. Fifth Third Bancorp now owns 2,262 shares of the company’s stock valued at $162,000 after buying an additional 220 shares during the last quarter. Valley National Advisers Inc. increased its position in Grand Canyon Education by 23.8% in the first quarter. Valley National Advisers Inc. now owns 2,562 shares of the company’s stock valued at $183,000 after buying an additional 492 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Grand Canyon Education by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,697 shares of the company’s stock valued at $193,000 after buying an additional 129 shares during the last quarter. Affinity Investment Advisors LLC acquired a new position in Grand Canyon Education during the first quarter valued at approximately $203,000. Finally, Hengehold Capital Management LLC purchased a new stake in Grand Canyon Education during the first quarter worth about $204,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.
Grand Canyon Education, Inc. (NASDAQ LOPE) traded up 0.92% during midday trading on Friday, hitting $81.33. 289,261 shares of the company traded hands. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 24.01 and a beta of 1.54. The stock’s 50-day moving average price is $77.87 and its 200 day moving average price is $66.70. Grand Canyon Education, Inc. has a 12-month low of $37.94 and a 12-month high of $81.76.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.11. Grand Canyon Education had a net margin of 17.97% and a return on equity of 21.53%. The business had revenue of $248.20 million for the quarter, compared to analyst estimates of $244.64 million. During the same quarter in the prior year, the business earned $0.92 EPS. Grand Canyon Education’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Grand Canyon Education, Inc. will post $3.66 EPS for the current year.
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A number of equities research analysts have issued reports on LOPE shares. Zacks Investment Research cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Barrington Research upped their price target on shares of Grand Canyon Education from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Piper Jaffray Companies restated an “overweight” rating and set a $73.00 price target (up from $69.00) on shares of Grand Canyon Education in a report on Monday, March 20th. Finally, ValuEngine upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Six analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $77.50.
In other Grand Canyon Education news, insider Joseph N. Mildenhall sold 6,345 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $79.65, for a total value of $505,379.25. Following the completion of the sale, the insider now owns 96,728 shares of the company’s stock, valued at approximately $7,704,385.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian E. Mueller sold 30,000 shares of the business’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $70.66, for a total transaction of $2,119,800.00. Following the completion of the sale, the chief executive officer now directly owns 312,794 shares of the company’s stock, valued at approximately $22,102,024.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,545 shares of company stock worth $15,364,083. 5.30% of the stock is owned by company insiders.
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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