Parametrica Management Ltd trimmed its stake in Grand Canyon Education Inc (NASDAQ:LOPE) by 47.5% in the first quarter, HoldingsChannel reports. The firm owned 2,497 shares of the company’s stock after selling 2,261 shares during the quarter. Parametrica Management Ltd’s holdings in Grand Canyon Education were worth $286,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of LOPE. Norges Bank bought a new position in Grand Canyon Education in the fourth quarter valued at approximately $45,852,000. Handelsbanken Fonder AB grew its stake in Grand Canyon Education by 10.4% in the fourth quarter. Handelsbanken Fonder AB now owns 1,341,374 shares of the company’s stock valued at $128,960,000 after purchasing an additional 126,084 shares in the last quarter. Gotham Asset Management LLC bought a new position in Grand Canyon Education in the fourth quarter valued at approximately $11,313,000. FMR LLC grew its stake in Grand Canyon Education by 4.8% in the fourth quarter. FMR LLC now owns 2,376,673 shares of the company’s stock valued at $228,494,000 after purchasing an additional 107,953 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in Grand Canyon Education by 14.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 780,798 shares of the company’s stock valued at $75,066,000 after purchasing an additional 97,252 shares in the last quarter. Hedge funds and other institutional investors own 97.90% of the company’s stock.
LOPE has been the subject of a number of analyst reports. BidaskClub upgraded Grand Canyon Education from a “strong sell” rating to a “sell” rating in a research note on Friday, February 22nd. Barrington Research restated a “buy” rating and issued a $135.00 price target on shares of Grand Canyon Education in a research note on Friday, February 8th. ValuEngine raised Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. BMO Capital Markets raised their price objective on Grand Canyon Education to $130.00 and gave the company an “outperform” rating in a research report on Friday, February 22nd. Finally, Zacks Investment Research cut Grand Canyon Education from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $133.20.
Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $195.60 million. During the same period last year, the firm posted $1.52 earnings per share. The business’s revenue was down 28.4% on a year-over-year basis. As a group, equities research analysts anticipate that Grand Canyon Education Inc will post 5.24 earnings per share for the current fiscal year.
In other news, COO William Stan Meyer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $117.56, for a total value of $2,351,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian E. Mueller sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $117.91, for a total value of $4,716,400.00. Following the completion of the sale, the chief executive officer now directly owns 280,124 shares of the company’s stock, valued at $33,029,420.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,000 shares of company stock valued at $9,527,760. Insiders own 2.00% of the company’s stock.
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About Grand Canyon Education
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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