Nordea Investment Management AB reduced its holdings of Grand Canyon Education, Inc. (NASDAQ: LOPE – Get Rating) stock by 62.7% in the first quarter, HoldingsChannel.com reports. The company held 381,938 shares of the company after selling 641,361 shares during the quarter. Nordea Investment Management AB’s holdings in Grand Canyon Education were worth $37,491,000 when it last filed with the Securities & Exchange Commission.
Several other major investors have also changed their position in the company. Van Berkom & Associates Inc. increased its position in Grand Canyon Education shares by 6.3% during the fourth quarter. Van Berkom & Associates Inc. now owns 1,417,954 shares of the company worth $121,533,000 after purchasing an additional 83,431 shares last quarter. ArrowMark Colorado Holdings LLC increased its position in Grand Canyon Education shares by 38.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,389,158 shares of the company worth $122,190,000 after purchasing an additional 383,417 shares last quarter. Burgundy Asset Management Ltd. increased its position in Grand Canyon Education shares by 3.8% during the fourth quarter. Burgundy Asset Management Ltd. now owns 957,800 shares of the company worth $82,093,000 after purchasing an additional 34,708 shares last quarter. GW&K Investment Management LLC increased its holdings of Grand Canyon Education stock by 0.3% during the 4th quarter. GW&K Investment Management LLC now owns 823,739 shares of the company worth $70,603,000 after acquiring an additional 2,093 shares during the period. Finally, Dimensional Fund Advisors LP increased its holding in shares of Grand Canyon Education by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 784,032 shares of the company worth $67,199,000 after acquiring an additional 64,232 shares during the period. Hedge funds and other institutional investors own 91.04% of the company’s shares.
A number of analysts have weighed in on the stock recently. Robert W. Baird raised his price target on Grand Canyon Education stock from $95.00 to $111.00 in a Thursday, May 5 report. StockNews.com downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a Wednesday, May 11 report. Barrington Research raised its price target on Grand Canyon Education shares from $100.00 to $110.00 in a Thursday, May 5 report. Finally, TheStreet downgraded shares of Grand Canyon Education from a “c+” rating to a “b” rating in a report on Tuesday, April 5.
In related news, CAO Lori Browning sold 1,000 shares in a trade that took place on Tuesday, June 7. The shares were sold at an average price of $90.37, for a total value of $90,370.00. Following the completion of the transaction, the chief accounting officer now owns 15,369 shares of the company, valued at approximately $1,388,896.53. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 1.80% of the shares are held by insiders.
NASDAQ:LOPE shares opened at $88.36 on Thursday. The company has a market capitalization of $2.86 billion, a price/earnings ratio of 14.78, a PEG ratio of 1.01 and a beta of 0.51. The company has a 50-day simple moving average of $91.99 and a 200-day simple moving average of $89.05. Grand Canyon Education, Inc. has a one-year minimum of $70.00 and a one-year maximum of $102.04.
Grand Canyon Education (NASDAQ:LOPE – Get Rating) last released its quarterly earnings data on Wednesday, May 4. The company reported EPS of $1.72 for the quarter, beating the consensus estimate of $1.70 by $0.02. The company posted revenue of $244.13 million in the quarter, versus a consensus estimate of $241.78 million. Grand Canyon Education had a net margin of 26.59% and a return on equity of 20.81%. The company’s revenue increased by 3.1% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $1.72. As a group, stock analysts predict Grand Canyon Education, Inc. will post earnings per share of 5.82 for the current fiscal year.
Grand Canyon Education Corporate Profile (Get a rating)
Grand Canyon Education, Inc provides educational services to colleges and universities across the United States. The company’s technology services include learning management system, internal administration, infrastructure and support services; academic services include curriculum and curriculum, faculty and related training and development, course planning, and skills and simulation lab sites; and counseling and support services include admission, financial aid, field experience, and other counseling services.
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