Pacer Advisors Inc. cut its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 91.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,913 shares of the company’s stock after selling 71,164 shares during the period. Pacer Advisors Inc.’s holdings in Grand Canyon Education were worth $730,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOPE. HighTower Advisors LLC boosted its stake in Grand Canyon Education by 38.2% during the first quarter. HighTower Advisors LLC now owns 13,507 shares of the company’s stock valued at $1,307,000 after buying an additional 3,737 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake 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 valued at $813,000 after buying an additional 1,184 shares during the last quarter. Bank of Montreal Can boosted its stake 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 valued at $948,000 after buying an additional 3,553 shares during the last quarter. Acadian Asset Management LLC bought a new position in Grand Canyon Education during the first quarter valued at approximately $686,000. Finally, MetLife Investment Management LLC lifted its stake 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. 96.81% of the stock is owned by institutional investors.
Grand Canyon Education Stock Performance
Shares of LOPE stock opened at $115.58 on Thursday. Grand Canyon Education, Inc. has a 52-week low of $78.37 and a 52-week high of $124.53. The firm has a market capitalization of $3.55 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.21 and a beta of 0.62. The stock has a 50 day moving average price of $113.72 and a 200 day moving average price of $109.62.
Grand Canyon Education (NASDAQ:LOPE – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.04. Grand Canyon Education had a return on equity of 30.24% and a net margin of 20.26%. The firm had revenue of $250.13 million during the quarter, compared to analyst estimates of $249.74 million. During the same period last year, the company earned $1.72 EPS. Grand Canyon Education’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Grand Canyon Education, Inc. will post 6.39 EPS for the current year.
Wall Street Analysts Forecast Growth
LOPE has been the subject of several analyst reports. BMO Capital Markets raised their price objective on Grand Canyon Education from $125.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, February 21st. StockNews.com initiated coverage on Grand Canyon Education in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Barrington Research raised their price objective on Grand Canyon Education from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday.
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.
Further Reading
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