Granite Investment Partners LLC Has $1.70 Million Position in Grand Canyon Education, Inc. (LOPE)
Granite Investment Partners LLC raised its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,645 shares of the company’s stock after buying an additional 87 shares during the period. Granite Investment Partners LLC’s holdings in Grand Canyon Education were worth $1,697,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. Meeder Asset Management Inc. boosted its stake in Grand Canyon Education by 586.1% in the second quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock worth $112,000 after buying an additional 1,225 shares during the period. Fifth Third Bancorp boosted its stake in Grand Canyon Education by 10.8% in the first quarter. Fifth Third Bancorp now owns 2,262 shares of the company’s stock worth $162,000 after buying an additional 220 shares during the period. Valley National Advisers Inc. boosted its stake in Grand Canyon Education by 23.8% in the first quarter. Valley National Advisers Inc. now owns 2,562 shares of the company’s stock worth $183,000 after buying an additional 492 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Grand Canyon Education by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,697 shares of the company’s stock worth $193,000 after buying an additional 129 shares during the period. Finally, Affinity Investment Advisors LLC acquired a new stake in Grand Canyon Education during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.
Grand Canyon Education, Inc. (NASDAQ LOPE) opened at 79.43 on Friday. Grand Canyon Education, Inc. has a 52 week low of $39.07 and a 52 week high of $85.94. The company has a 50-day moving average of $77.65 and a 200-day moving average of $72.14. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 21.92 and a beta of 1.48.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The business had revenue of $218.30 million for the quarter, compared to analyst estimates of $213.08 million. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Grand Canyon Education, Inc. will post $3.83 earnings per share for the current year.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Grand Canyon Education from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Thursday, August 3rd. Barrington Research restated an “outperform” rating and set a $89.00 target price (up from $85.00) on shares of Grand Canyon Education in a research report on Wednesday, August 2nd. Finally, BidaskClub cut Grand Canyon Education from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $78.50.
In other Grand Canyon Education news, CEO Brian E. Mueller sold 29,788 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $77.12, for a total transaction of $2,297,250.56. Following the transaction, the chief executive officer now directly owns 311,312 shares in the company, valued at $24,008,381.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian E. Mueller sold 30,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $79.34, for a total transaction of $2,380,200.00. Following the transaction, the chief executive officer now owns 311,524 shares in the company, valued at $24,716,314.16. The disclosure for this sale can be found here. Insiders have sold 130,231 shares of company stock worth $10,207,539 over the last 90 days. 3.00% of the stock is currently owned by company insiders.
About Grand Canyon Education
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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