Charles Schwab Investment Management Inc. Cuts Holdings in Grand Canyon Education, Inc. $LOPE

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Grand Canyon Education, Inc. by 5.0% during the first quarter, owning 314,780 shares valued at approximately $54.5 million after selling 16,679 shares.
• Several large investors have modified their stakes in Grand Canyon Education, with Bessemer Group increasing its position by 244.2%, now holding 716 shares worth $124,000.
• Grand Canyon Education reported $1.53 earnings per share for the quarter, exceeding estimates, and had a revenue of $247.5 million, marking an 8.8% year-over-year increase.

Charles Schwab Investment Management Inc. lowered its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,780 shares of the company's stock after selling 16,679 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.11% of Grand Canyon Education worth $54,463,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new stake in Grand Canyon Education during the 1st quarter valued at $232,000. Convergence Financial LLC acquired a new stake in Grand Canyon Education during the 1st quarter valued at $249,000. Bessemer Group Inc. grew its holdings in Grand Canyon Education by 244.2% during the 1st quarter. Bessemer Group Inc. now owns 716 shares of the company's stock valued at $124,000 after buying an additional 508 shares during the last quarter. 111 Capital acquired a new stake in Grand Canyon Education during the 4th quarter valued at $528,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Grand Canyon Education by 5.2% during the 1st quarter. Harbor Capital Advisors Inc. now owns 43,421 shares of the company's stock valued at $7,513,000 after buying an additional 2,163 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Grand Canyon Education Stock Down 0.7%

Shares of LOPE stock traded down $1.50 during mid-day trading on Wednesday, hitting $201.47. 182,635 shares of the company's stock were exchanged, compared to its average volume of 325,975. Grand Canyon Education, Inc. has a fifty-two week low of $130.69 and a fifty-two week high of $203.70. The stock has a 50-day simple moving average of $181.95 and a two-hundred day simple moving average of $181.27. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.49 and a beta of 0.79.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.16. Grand Canyon Education had a return on equity of 31.50% and a net margin of 22.15%.The business had revenue of $247.50 million for the quarter, compared to analysts' expectations of $240.90 million. During the same quarter last year, the firm earned $1.19 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. As a group, analysts anticipate that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LOPE shares. BMO Capital Markets lowered their target price on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a report on Monday, July 7th. Barrington Research reiterated an "outperform" rating and set a $215.00 target price on shares of Grand Canyon Education in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $203.67.

About Grand Canyon Education

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.