Hood River Capital Management LLC decreased its position in Grand Canyon Education Inc. (NASDAQ:LOPE) by 62.5% during the second quarter, Holdings Channel reports. The institutional investor owned 84,133 shares of the company’s stock after selling 140,417 shares during the period. Hood River Capital Management LLC’s holdings in Grand Canyon Education were worth $3,359,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Grand Canyon Education by 6.2% in the first quarter. Geode Capital Management LLC now owns 333,622 shares of the company’s stock worth $14,259,000 after buying an additional 19,398 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Grand Canyon Education by 2,537,826.7% in the first quarter. Loomis Sayles & Co. L P now owns 380,689 shares of the company’s stock worth $16,271,000 after buying an additional 380,674 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Grand Canyon Education by 363.8% in the first quarter. Goldman Sachs Group Inc. now owns 180,000 shares of the company’s stock worth $7,693,000 after buying an additional 141,194 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Grand Canyon Education by 550.0% in the first quarter. UBS Asset Management Americas Inc. now owns 192,404 shares of the company’s stock worth $8,223,000 after buying an additional 162,802 shares in the last quarter. Finally, State Street Corp raised its stake in Grand Canyon Education by 2.4% in the first quarter. State Street Corp now owns 869,253 shares of the company’s stock worth $37,150,000 after buying an additional 20,003 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Grand Canyon Education Inc. (NASDAQ:LOPE) traded down 0.37% during trading on Friday, hitting $40.47. The company’s stock had a trading volume of 234,129 shares. Grand Canyon Education Inc. has a 52 week low of $31.12 and a 52 week high of $45.02. The firm’s 50 day moving average price is $41.09 and its 200-day moving average price is $41.87. The company has a market cap of $1.87 billion, a PE ratio of 13.36 and a beta of 1.10.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. The company had revenue of $191.30 million for the quarter, compared to analyst estimates of $189.09 million. Grand Canyon Education had a net margin of 17.25% and a return on equity of 22.53%. Grand Canyon Education’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS. On average, analysts predict that Grand Canyon Education Inc. will post $3.08 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Grand Canyon Education from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, August 9th. Piper Jaffray Cos. increased their target price on Grand Canyon Education from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $62.00 target price on shares of Grand Canyon Education in a report on Tuesday, September 13th. Six analysts have rated the stock with a buy rating, Grand Canyon Education has a consensus rating of “Buy” and an average target price of $49.67.
In other Grand Canyon Education news, CEO Brian E. Mueller sold 100,000 shares of Grand Canyon Education stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $43.09, for a total value of $4,309,000.00. Following the transaction, the chief executive officer now owns 388,090 shares in the company, valued at approximately $16,722,798.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO William Stan Meyer sold 25,000 shares of Grand Canyon Education stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $43.32, for a total transaction of $1,083,000.00. Following the completion of the transaction, the chief operating officer now owns 126,862 shares in the company, valued at approximately $5,495,661.84. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
About Grand Canyon Education
Grand Canyon Education, Inc is a regionally accredited university. The Company offers approximately 200 graduate and undergraduate degree programs and certificates across approximately eight colleges both online and on ground in Phoenix, Arizona and at leased facilities and at facilities owned by third-party employers of its students.
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