Tributary Capital Management LLC Trims Position in Grand Canyon Education Inc (LOPE)

Tributary Capital Management LLC lessened its stake in Grand Canyon Education Inc (NASDAQ:LOPE) by 11.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,900 shares of the company’s stock after selling 1,300 shares during the quarter. Tributary Capital Management LLC’s holdings in Grand Canyon Education were worth $1,134,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LOPE. Riverhead Capital Management LLC bought a new stake in shares of Grand Canyon Education in the 3rd quarter worth approximately $338,000. Man Group plc raised its stake in Grand Canyon Education by 60.9% during the 3rd quarter. Man Group plc now owns 43,087 shares of the company’s stock valued at $4,860,000 after acquiring an additional 16,304 shares in the last quarter. Verition Fund Management LLC bought a new stake in Grand Canyon Education during the 3rd quarter valued at $393,000. Putnam Investments LLC raised its stake in Grand Canyon Education by 154.9% during the 3rd quarter. Putnam Investments LLC now owns 94,310 shares of the company’s stock valued at $10,638,000 after acquiring an additional 57,306 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in Grand Canyon Education by 165.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,969 shares of the company’s stock valued at $221,000 after acquiring an additional 1,228 shares in the last quarter. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LOPE stock traded up $0.74 during mid-day trading on Friday, hitting $117.74. 346,816 shares of the stock traded hands, compared to its average volume of 312,609. Grand Canyon Education Inc has a twelve month low of $90.67 and a twelve month high of $130.10. The stock has a market cap of $5.65 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.84 and a current ratio of 1.57.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.13. Grand Canyon Education had a return on equity of 21.50% and a net margin of 29.80%. The company had revenue of $197.29 million for the quarter, compared to analysts’ expectations of $195.60 million. During the same period last year, the firm earned $1.52 EPS. The firm’s revenue for the quarter was down 28.4% on a year-over-year basis. Equities research analysts predict that Grand Canyon Education Inc will post 5.24 earnings per share for the current year.

Several analysts have weighed in on LOPE shares. ValuEngine downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Friday, January 11th. BMO Capital Markets lifted their target price on Grand Canyon Education to $117.00 and gave the company a “reduce” rating in a research note on Tuesday, January 15th. Zacks Investment Research downgraded Grand Canyon Education from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Barrington Research reaffirmed a “buy” rating and set a $135.00 target price on shares of Grand Canyon Education in a research note on Friday, February 8th. Finally, BidaskClub raised Grand Canyon Education from a “strong sell” rating to a “sell” rating in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $133.20.

In related news, CEO Brian E. Mueller sold 40,000 shares of Grand Canyon Education stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.91, for a total value of $4,716,400.00. Following the transaction, the chief executive officer now directly owns 280,124 shares in the company, valued at approximately $33,029,420.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph N. Mildenhall sold 5,000 shares of Grand Canyon Education stock in a transaction on Monday, March 4th. The stock was sold at an average price of $118.44, for a total value of $592,200.00. Following the completion of the transaction, the insider now owns 78,659 shares in the company, valued at $9,316,371.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,000 shares of company stock worth $9,297,700. 2.40% of the stock is owned by insiders.

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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.

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

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