Massachusetts Financial Services Co. MA acquired a new position in Grand Canyon Education, Inc. (NASDAQ:LOPE) during the first quarter, Holdings Channel reports. The institutional investor acquired 37,553 shares of the company’s stock, valued at approximately $2,689,000.

A number of other institutional investors have also recently bought and sold shares of LOPE. Bronfman E.L. Rothschild L.P. increased its position in shares of 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. Fifth Third Bancorp increased its position in shares of 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. Bell Bank increased its position in shares of Grand Canyon Education by 3.6% in the first quarter. Bell Bank now owns 7,630 shares of the company’s stock worth $546,000 after buying an additional 265 shares during the period. Swiss National Bank increased its position in shares of Grand Canyon Education by 1.0% in the first quarter. Swiss National Bank now owns 74,300 shares of the company’s stock worth $5,321,000 after buying an additional 700 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Grand Canyon Education by 6.0% in the first quarter. Legal & General Group Plc now owns 15,896 shares of the company’s stock worth $1,137,000 after buying an additional 894 shares during the period. 97.59% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Grand Canyon Education (NASDAQ:LOPE)

Shares of Grand Canyon Education, Inc. (NASDAQ LOPE) opened at 79.56 on Monday. Grand Canyon Education, Inc. has a 12-month low of $37.94 and a 12-month high of $83.00. The stock has a market capitalization of $3.74 billion, a P/E ratio of 23.49 and a beta of 1.54. The firm’s 50-day moving average is $78.39 and its 200 day moving average is $67.37.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Thursday, May 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.11. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $244.64 million. Grand Canyon Education had a return on equity of 21.53% and a net margin of 17.97%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. On average, equities research analysts forecast that Grand Canyon Education, Inc. will post $3.66 EPS for the current fiscal year.

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LOPE has been the topic of a number of research analyst reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $73.00 price target (up from $69.00) on shares of Grand Canyon Education in a report on Monday, March 20th. Zacks Investment Research downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Barrington Research boosted their price target on shares of Grand Canyon Education from $68.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Finally, ValuEngine raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.75.

In other news, CEO Brian E. Mueller sold 30,000 shares of Grand Canyon Education stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $70.66, for a total transaction of $2,119,800.00. Following the transaction, the chief executive officer now directly owns 312,794 shares of the company’s stock, valued at approximately $22,102,024.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO William Stan Meyer sold 20,000 shares of Grand Canyon Education stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $70.68, for a total value of $1,413,600.00. Following the transaction, the chief operating officer now directly owns 118,959 shares in the company, valued at $8,408,022.12. The disclosure for this sale can be found here. Insiders sold 201,545 shares of company stock worth $15,364,083 over the last three months. Insiders own 5.30% of the company’s stock.

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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