Bank of New York Mellon Corp Has $42.66 Million Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Bank of New York Mellon Corp reduced its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 246,548 shares of the company's stock after selling 10,131 shares during the period. Bank of New York Mellon Corp owned 0.86% of Grand Canyon Education worth $42,658,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LOPE. GeoWealth Management LLC bought a new position in shares of Grand Canyon Education in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Grand Canyon Education in the 4th quarter worth about $32,000. UMB Bank n.a. raised its position in shares of Grand Canyon Education by 107.8% in the 1st quarter. UMB Bank n.a. now owns 318 shares of the company's stock worth $55,000 after acquiring an additional 165 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Grand Canyon Education in the 4th quarter worth about $59,000. Finally, Blue Trust Inc. raised its position in shares of Grand Canyon Education by 20.5% in the 1st quarter. Blue Trust Inc. now owns 577 shares of the company's stock worth $100,000 after acquiring an additional 98 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LOPE. Barrington Research raised their target price on Grand Canyon Education from $205.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen downgraded Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets reduced their target price on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research note on Monday, July 7th.

Grand Canyon Education Price Performance

Shares of LOPE traded up $1.05 during trading hours on Thursday, hitting $170.42. The stock had a trading volume of 190,324 shares, compared to its average volume of 183,965. The firm has a 50 day simple moving average of $188.03 and a 200-day simple moving average of $178.96. The firm has a market capitalization of $4.84 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 1.29 and a beta of 0.77. Grand Canyon Education, Inc. has a 1-year low of $130.69 and a 1-year high of $202.28.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.51 by $0.06. The company had revenue of $289.31 million during the quarter, compared to the consensus estimate of $287.18 million. Grand Canyon Education had a return on equity of 30.94% and a net margin of 21.94%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $2.35 EPS. Equities analysts predict that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal year.

Grand Canyon Education Company 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.