JPMorgan Chase & Co. boosted its stake in shares of Grand Canyon Education Inc (NASDAQ:LOPE) by 60.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,894 shares of the company’s stock after buying an additional 4,463 shares during the quarter. JPMorgan Chase & Co.’s holdings in Grand Canyon Education were worth $1,390,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOPE. Icon Wealth Partners LLC purchased a new stake in shares of Grand Canyon Education in the first quarter worth about $63,000. Marshall Wace LLP purchased a new stake in shares of Grand Canyon Education in the first quarter worth about $77,000. FTB Advisors Inc. lifted its holdings in shares of Grand Canyon Education by 85.9% in the second quarter. FTB Advisors Inc. now owns 1,069 shares of the company’s stock worth $125,000 after buying an additional 494 shares in the last quarter. NEXT Financial Group Inc lifted its holdings in shares of Grand Canyon Education by 9.1% in the second quarter. NEXT Financial Group Inc now owns 1,193 shares of the company’s stock worth $139,000 after buying an additional 100 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Grand Canyon Education by 16.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,301 shares of the company’s stock worth $152,000 after buying an additional 186 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on LOPE. ValuEngine upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. BidaskClub downgraded Grand Canyon Education from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Zacks Investment Research downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research set a $145.00 price target on Grand Canyon Education and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird set a $145.00 price target on Grand Canyon Education and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $139.25.
Shares of NASDAQ:LOPE traded up $1.61 during mid-day trading on Friday, reaching $99.30. 230,393 shares of the company traded hands, compared to its average volume of 392,975. The company’s 50 day moving average price is $111.55 and its 200-day moving average price is $117.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.96. Grand Canyon Education Inc has a 52 week low of $90.67 and a 52 week high of $132.72. The firm has a market cap of $4.75 billion, a PE ratio of 19.51, a PEG ratio of 1.22 and a beta of 0.70.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.15. The business had revenue of $174.82 million for the quarter, compared to analysts’ expectations of $173.40 million. Grand Canyon Education had a return on equity of 21.06% and a net margin of 33.14%. The company’s revenue for the quarter was down 26.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. On average, research analysts predict that Grand Canyon Education Inc will post 5.39 earnings per share for the current fiscal year.
In other news, insider Joseph N. Mildenhall sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 56,809 shares of the company’s stock, valued at approximately $6,177,978.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dilek Marsh sold 1,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 26,624 shares in the company, valued at approximately $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 worth $596,730 over the last ninety days. Insiders own 2.00% of the company’s stock.
Grand Canyon Education Company Profile
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.
See Also: How the Dogs of the Dow Strategy Works
Receive News & Ratings for Grand Canyon Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grand Canyon Education and related companies with MarketBeat.com's FREE daily email newsletter.