GW&K Investment Management LLC lifted its holdings in shares of Grand Canyon Education Inc (NASDAQ:LOPE) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 916,713 shares of the company’s stock after purchasing an additional 111,701 shares during the quarter. Grand Canyon Education accounts for approximately 1.3% of GW&K Investment Management LLC’s portfolio, making the stock its 4th largest position. GW&K Investment Management LLC owned about 1.90% of Grand Canyon Education worth $90,021,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of LOPE. Reinhart Partners Inc. lifted its position in Grand Canyon Education by 36.5% in the third quarter. Reinhart Partners Inc. now owns 65,280 shares of the company’s stock valued at $6,410,000 after purchasing an additional 17,461 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Grand Canyon Education by 213.7% during the third quarter. First Trust Advisors LP now owns 12,272 shares of the company’s stock valued at $1,205,000 after acquiring an additional 8,360 shares in the last quarter. Sciencast Management LP grew its stake in Grand Canyon Education by 17.5% in the third quarter. Sciencast Management LP now owns 5,100 shares of the company’s stock worth $507,000 after purchasing an additional 758 shares during the period. Comerica Bank grew its stake in Grand Canyon Education by 28.9% in the third quarter. Comerica Bank now owns 45,720 shares of the company’s stock worth $4,266,000 after purchasing an additional 10,259 shares during the period. Finally, California Public Employees Retirement System grew its stake in Grand Canyon Education by 22.2% in the third quarter. California Public Employees Retirement System now owns 102,485 shares of the company’s stock worth $10,064,000 after purchasing an additional 18,634 shares during the period. 96.79% of the stock is owned by institutional investors.
LOPE stock traded down $3.19 during midday trading on Friday, hitting $84.89. The stock had a trading volume of 1,074,500 shares, compared to its average volume of 368,573. Grand Canyon Education Inc has a 52-week low of $76.48 and a 52-week high of $132.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.14 and a beta of 0.65. The business has a 50-day moving average of $97.66 and a two-hundred day moving average of $114.69.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.09. Grand Canyon Education had a return on equity of 21.06% and a net margin of 33.14%. The firm had revenue of $193.30 million during the quarter, compared to analyst estimates of $191.75 million. During the same period last year, the company earned $1.06 EPS. Grand Canyon Education’s quarterly revenue was up 24.3% compared to the same quarter last year. Research analysts predict that Grand Canyon Education Inc will post 5.39 earnings per share for the current year.
Several brokerages recently weighed in on LOPE. BidaskClub cut Grand Canyon Education from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 22nd. Barrington Research set a $145.00 price target on Grand Canyon Education and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Zacks Investment Research raised Grand Canyon Education from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Saturday. ValuEngine raised Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Finally, BMO Capital Markets reduced their price target on Grand Canyon Education from $126.00 to $116.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $119.50.
In other Grand Canyon Education news, insider Joseph N. Mildenhall sold 2,000 shares of Grand Canyon Education stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.75, for a total transaction of $217,500.00. Following the completion of the sale, the insider now directly owns 56,809 shares of the company’s stock, valued at approximately $6,177,978.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dilek Marsh sold 1,000 shares of Grand Canyon Education stock in a transaction on Monday, August 26th. The shares were sold at an average price of $126.83, for a total value of $126,830.00. Following the sale, the insider now directly owns 26,624 shares of the company’s stock, valued at $3,376,721.92. The disclosure for this sale can be found here. Insiders have sold a total of 5,000 shares of company stock valued at $596,730 over the last three months. 2.00% of the stock is owned by corporate insiders.
About Grand Canyon Education
Grand Canyon Education, Inc provides education services in the United States. It offers technology and academic, counseling and support, and marketing and communication services, as well as back office services, such as financial aid processing, accounting, reporting, tax, human resources, and procurement services to the Grand Canyon University.
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