Maryland State Retirement & Pension System bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,448 shares of the company’s stock, valued at approximately $259,000.
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A number of other hedge funds have also recently bought and sold shares of LOPE. HighTower Advisors LLC boosted its position in Grand Canyon Education by 38.2% during the first quarter. HighTower Advisors LLC now owns 13,507 shares of the company’s stock worth $1,307,000 after acquiring an additional 3,737 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Grand Canyon Education by 16.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,384 shares of the company’s stock worth $813,000 after acquiring an additional 1,184 shares during the last quarter. Bank of Montreal Can boosted its position in Grand Canyon Education by 57.8% during the first quarter. Bank of Montreal Can now owns 9,697 shares of the company’s stock worth $948,000 after acquiring an additional 3,553 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Grand Canyon Education during the first quarter worth approximately $686,000. Finally, MetLife Investment Management LLC boosted its holdings in shares of Grand Canyon Education by 32.0% in the 1st quarter. MetLife Investment Management LLC now owns 25,625 shares of the company’s stock valued at $2,488,000 after purchasing an additional 6,205 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.
Grand Canyon Education Trading Up 1.5 %
Shares of LOPE stock opened at $115.22 on Thursday. The company’s fifty day simple moving average is $113.15 and its 200-day simple moving average is $104.74. Grand Canyon Education, Inc. has a 52 week low of $78.37 and a 52 week high of $121.60. The company has a market cap of $3.58 billion, a PE ratio of 20.14, a P/E/G ratio of 1.19 and a beta of 0.62.
Grand Canyon Education (NASDAQ:LOPE – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. Grand Canyon Education had a net margin of 20.26% and a return on equity of 30.24%. The business had revenue of $258.70 million for the quarter, compared to the consensus estimate of $256.17 million. During the same quarter last year, the firm posted $2.11 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts expect that Grand Canyon Education, Inc. will post 6.39 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on LOPE shares. Barrington Research lifted their price target on shares of Grand Canyon Education from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, February 17th. BMO Capital Markets lifted their price target on shares of Grand Canyon Education from $125.00 to $126.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. Finally, StockNews.com started coverage on shares of Grand Canyon Education in a report on Thursday, March 16th. They issued a “hold” rating on the stock.
About Grand Canyon Education
Grand Canyon Education, Inc engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.
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