Fifth Third Bancorp Sells 1,679 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Fifth Third Bancorp reduced its stake in Grand Canyon Education, Inc. by 42.0%, selling 1,679 shares and retaining a total of 2,316 shares valued at $438,000.
• Several large investors made new stakes in Grand Canyon Education during the first quarter, contributing to institutional ownership now at 94.17% of the company's stock.
• Grand Canyon Education reported $1.53 earnings per share for the last quarter, exceeding analyst expectations of $1.37 and marking an 8.8% revenue increase compared to the prior year.

Fifth Third Bancorp lessened its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 42.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,316 shares of the company's stock after selling 1,679 shares during the period. Fifth Third Bancorp's holdings in Grand Canyon Education were worth $438,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Grand Canyon Education during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grand Canyon Education during the first quarter worth $35,000. WPG Advisers LLC bought a new stake in shares of Grand Canyon Education during the first quarter worth $44,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Grand Canyon Education by 58.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after purchasing an additional 96 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Grand Canyon Education by 107.8% during the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock worth $55,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

LOPE has been the topic of several research analyst reports. Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barrington Research reiterated an "outperform" rating and issued a $230.00 price target on shares of Grand Canyon Education in a report on Tuesday, September 23rd. Finally, BMO Capital Markets decreased their price target 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. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grand Canyon Education presently has an average rating of "Buy" and a consensus target price of $208.67.

Grand Canyon Education Trading Up 0.4%

Shares of LOPE opened at $217.87 on Tuesday. Grand Canyon Education, Inc. has a 1 year low of $130.69 and a 1 year high of $218.31. The stock has a market cap of $6.12 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.59 and a beta of 0.80. The stock's 50-day moving average price is $196.30 and its two-hundred day moving average price is $186.96.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $247.50 million for the quarter, compared to analysts' expectations of $240.90 million. During the same quarter last year, the business earned $1.19 earnings per share. The company's revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts forecast that Grand Canyon Education, Inc. will post 8.81 EPS for the current year.

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.

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