Convergence Financial LLC Invests $249,000 in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Convergence Financial LLC bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,437 shares of the company's stock, valued at approximately $249,000.

Several other hedge funds have also made changes to their positions in the business. Diversified Trust Co boosted its stake in shares of Grand Canyon Education by 5.4% during the first quarter. Diversified Trust Co now owns 1,293 shares of the company's stock worth $224,000 after buying an additional 66 shares during the period. Bessemer Group Inc. lifted its position in Grand Canyon Education by 244.2% in the first quarter. Bessemer Group Inc. now owns 716 shares of the company's stock valued at $124,000 after purchasing an additional 508 shares during the period. Lecap Asset Management Ltd. lifted its position in Grand Canyon Education by 56.5% in the first quarter. Lecap Asset Management Ltd. now owns 5,206 shares of the company's stock valued at $901,000 after purchasing an additional 1,879 shares during the period. Blue Trust Inc. lifted its position in Grand Canyon Education by 20.5% in the first quarter. Blue Trust Inc. now owns 577 shares of the company's stock valued at $100,000 after purchasing an additional 98 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Grand Canyon Education by 14.8% in the first quarter. QRG Capital Management Inc. now owns 1,787 shares of the company's stock valued at $309,000 after purchasing an additional 231 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Grand Canyon Education Trading Up 1.4%

Shares of Grand Canyon Education stock opened at $189.45 on Monday. Grand Canyon Education, Inc. has a 12-month low of $130.69 and a 12-month high of $202.28. The stock has a market cap of $5.38 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.79. The company has a 50-day moving average of $188.67 and a two-hundred day moving average of $177.77.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LOPE shares. BMO Capital Markets raised their price objective on shares of Grand Canyon Education from $208.00 to $222.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Barrington Research raised their price objective on shares of Grand Canyon Education from $205.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th.

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.

Want to see what other hedge funds are holding LOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.