PNC Financial Services Group Inc. decreased its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE – Free Report) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,892 shares of the company’s stock after selling 726 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Grand Canyon Education were worth $646,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in shares of Grand Canyon Education in the 4th quarter worth about $54,000. Blue Trust Inc. lifted its stake in shares of Grand Canyon Education by 120.2% in the fourth quarter. Blue Trust Inc. now owns 425 shares of the company’s stock worth $56,000 after buying an additional 232 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Grand Canyon Education by 208.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 429 shares of the company’s stock valued at $57,000 after buying an additional 290 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Grand Canyon Education by 41.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 497 shares of the company’s stock valued at $66,000 after buying an additional 145 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Grand Canyon Education during the fourth quarter valued at approximately $101,000. 94.17% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have commented on LOPE. Barrington Research increased their target price on Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Robert W. Baird increased their price objective on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets boosted their target price on Grand Canyon Education from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th.
Get Our Latest Analysis on LOPE
Grand Canyon Education Stock Down 0.6 %
LOPE stock opened at $135.99 on Wednesday. The business’s 50-day moving average price is $139.20 and its 200-day moving average price is $134.74. The stock has a market cap of $4.04 billion, a P/E ratio of 19.02, a PEG ratio of 1.16 and a beta of 0.64. Grand Canyon Education, Inc. has a twelve month low of $100.23 and a twelve month high of $156.56.
Grand Canyon Education (NASDAQ:LOPE – Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. The firm had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. During the same period in the prior year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Grand Canyon Education, Inc. will post 7.8 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Kathy J. Claypatch sold 1,500 shares of the firm’s stock in a transaction on 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 $1,241,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lisa Graham Keegan sold 270 shares of Grand Canyon Education stock in a transaction dated 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 transaction, the director now owns 2,635 shares in the company, valued at $389,874.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathy J. Claypatch sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $149.20, for a total value of $223,800.00. Following the transaction, the insider now directly owns 8,320 shares in the company, valued at approximately $1,241,344. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Grand Canyon Education Profile
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.
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Source: defenseworld.net
