Bank of America Corp DE lessened its stake in Grand Canyon Education Inc (NASDAQ:LOPE) by 20.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,663 shares of the company’s stock after selling 79,360 shares during the period. Bank of America Corp DE’s holdings in Grand Canyon Education were worth $34,785,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Ostrum Asset Management bought a new stake in Grand Canyon Education in the 1st quarter worth approximately $132,000. V Wealth Management LLC bought a new stake in Grand Canyon Education in the 2nd quarter worth approximately $219,000. Mackay Shields LLC bought a new stake in Grand Canyon Education in the 2nd quarter worth approximately $257,000. Quantbot Technologies LP bought a new stake in Grand Canyon Education in the 1st quarter worth approximately $250,000. Finally, First Republic Investment Management Inc. bought a new stake in Grand Canyon Education in the 2nd quarter worth approximately $267,000. 94.24% of the stock is owned by institutional investors and hedge funds.
Shares of LOPE stock opened at $110.85 on Friday. Grand Canyon Education Inc has a 1 year low of $83.52 and a 1 year high of $123.30. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.05. The firm has a market cap of $5.37 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.20.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. Grand Canyon Education had a net margin of 22.28% and a return on equity of 21.38%. The firm had revenue of $236.82 million during the quarter, compared to the consensus estimate of $235.13 million. During the same quarter in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. sell-side analysts forecast that Grand Canyon Education Inc will post 4.89 earnings per share for the current fiscal year.
A number of equities research analysts have commented on LOPE shares. BidaskClub downgraded shares of Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 30th. Robert W. Baird lifted their target price on shares of Grand Canyon Education from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Zacks Investment Research raised shares of Grand Canyon Education from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Barrington Research reaffirmed a “buy” rating and issued a $135.00 target price on shares of Grand Canyon Education in a research report on Friday, August 10th. Finally, Piper Jaffray Companies lifted their target price on shares of Grand Canyon Education from $117.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Grand Canyon Education has a consensus rating of “Buy” and an average target price of $133.20.
About Grand Canyon Education
Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.
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