Algert Global LLC Sells 15,960 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Algert Global LLC reduced its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 22.3%, selling 15,960 shares and now owning 55,546 shares valued at approximately $9.61 million.
• Grand Canyon Education's recent quarterly earnings report showed an EPS of $1.53, surpassing analysts' expectations of $1.37, with revenues increasing 8.8% year-over-year.
• Analyst ratings for Grand Canyon Education vary, with BMO Capital Markets decreasing their price target to $210, while Wall Street Zen upgraded the stock from "hold" to "buy."

Algert Global LLC cut its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 22.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,546 shares of the company's stock after selling 15,960 shares during the quarter. Algert Global LLC owned 0.20% of Grand Canyon Education worth $9,611,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Grand Canyon Education by 7.1% during the first quarter. American Century Companies Inc. now owns 21,357 shares of the company's stock valued at $3,695,000 after buying an additional 1,409 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Grand Canyon Education during the first quarter valued at about $35,000. Informed Momentum Co LLC purchased a new stake in shares of Grand Canyon Education in the first quarter worth approximately $3,721,000. Public Sector Pension Investment Board purchased a new stake in shares of Grand Canyon Education in the first quarter worth approximately $9,216,000. Finally, CCM Investment Group LLC purchased a new stake in shares of Grand Canyon Education in the first quarter worth approximately $615,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barrington Research reissued an "outperform" rating and issued a $215.00 price target on shares of Grand Canyon Education in a research report on Thursday, August 7th. Finally, BMO Capital Markets reduced their price target on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research report on Monday, July 7th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $203.67.

Grand Canyon Education Price Performance

NASDAQ:LOPE traded up $3.62 during mid-day trading on Tuesday, reaching $202.97. The stock had a trading volume of 241,785 shares, compared to its average volume of 327,555. The business's 50 day moving average is $181.59 and its 200 day moving average is $181.13. Grand Canyon Education, Inc. has a fifty-two week low of $130.69 and a fifty-two week high of $203.18. The stock has a market cap of $5.70 billion, a P/E ratio of 24.57, a PEG ratio of 1.47 and a beta of 0.79.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.16. Grand Canyon Education had a net margin of 22.15% and a return on equity of 31.50%. The company had revenue of $247.50 million for the quarter, compared to analyst estimates of $240.90 million. During the same quarter last year, the firm posted $1.19 earnings per share. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts expect that Grand Canyon Education, Inc. will post 8.81 EPS for the current year.

Grand Canyon Education Profile

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.