Teacher Retirement System of Texas raised its stake in Grand Canyon Education Inc. (NASDAQ:LOPE) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 6,262 shares of the company’s stock after buying an additional 758 shares during the period. Teacher Retirement System of Texas’ holdings in Grand Canyon Education were worth $250,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of LOPE. Glenmede Trust Co. NA boosted its position in Grand Canyon Education by 5.5% in the second quarter. Glenmede Trust Co. NA now owns 959,029 shares of the company’s stock valued at $38,283,000 after buying an additional 49,709 shares during the period. State Street Corp boosted its position in Grand Canyon Education by 2.4% in the first quarter. State Street Corp now owns 869,253 shares of the company’s stock valued at $37,150,000 after buying an additional 20,003 shares during the period. RS Investment Management Co. LLC boosted its position in Grand Canyon Education by 5,587.7% in the second quarter. RS Investment Management Co. LLC now owns 771,084 shares of the company’s stock valued at $30,782,000 after buying an additional 757,527 shares during the period. Ardevora Asset Management LLP boosted its position in Grand Canyon Education by 14.8% in the second quarter. Ardevora Asset Management LLP now owns 656,400 shares of the company’s stock valued at $26,203,000 after buying an additional 84,400 shares during the period. Finally, Teachers Advisors Inc. boosted its position in Grand Canyon Education by 1.5% in the first quarter. Teachers Advisors Inc. now owns 420,622 shares of the company’s stock valued at $17,977,000 after buying an additional 6,370 shares during the period. Hedge funds and other institutional investors own 99.63% of the company’s stock.
Shares of Grand Canyon Education Inc. (NASDAQ:LOPE) opened at 40.79 on Tuesday. The company has a market capitalization of $1.88 billion, a PE ratio of 13.46 and a beta of 1.10. The stock’s 50 day moving average price is $40.71 and its 200-day moving average price is $41.77. Grand Canyon Education Inc. has a 52-week low of $31.12 and a 52-week high of $45.02.
Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.05. The business earned $191.30 million during the quarter, compared to the consensus estimate of $189.09 million. Grand Canyon Education had a return on equity of 22.53% and a net margin of 17.25%. Grand Canyon Education’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. On average, analysts expect that Grand Canyon Education Inc. will post $3.08 earnings per share for the current year.
LOPE has been the subject of several research reports. Zacks Investment Research upgraded Grand Canyon Education from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, August 9th. Piper Jaffray Cos. lifted their price target 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 reiterated a “buy” rating and set a $62.00 price target on shares of Grand Canyon Education in a report on Tuesday, September 13th. Six equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $49.67.
In other Grand Canyon Education news, insider Joseph N. Mildenhall sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $43.36, for a total value of $953,920.00. Following the completion of the transaction, the insider now directly owns 123,514 shares in the company, valued at $5,355,567.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO William Stan Meyer sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $43.32, for a total value of $1,083,000.00. Following the completion of the transaction, the chief operating officer now owns 126,862 shares of the company’s stock, valued at $5,495,661.84. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
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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