Fox Run Management L.L.C. Decreases Stake in Grand Canyon Education, Inc. $LOPE

Key Points

• Fox Run Management L.L.C. reduced its stake in Grand Canyon Education by 54.3%, now owning 3,610 shares after selling 4,295 shares in Q1.
• Grand Canyon Education reported earnings per share of $1.53, exceeding estimates by $0.16, with revenue of $247.50 million, representing an 8.8% year-over-year increase.
• Institutional investors now hold 94.17% of Grand Canyon Education's stock, highlighting strong institutional interest in the company.

Fox Run Management L.L.C. reduced its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 54.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,610 shares of the company's stock after selling 4,295 shares during the period. Fox Run Management L.L.C.'s holdings in Grand Canyon Education were worth $625,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LOPE. T. Rowe Price Investment Management Inc. bought a new position in Grand Canyon Education in the 4th quarter worth about $38,066,000. GAMMA Investing LLC grew its stake in Grand Canyon Education by 22,988.8% in the 1st quarter. GAMMA Investing LLC now owns 205,721 shares of the company's stock worth $35,594,000 after acquiring an additional 204,830 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Grand Canyon Education by 79.7% in the 1st quarter. Allianz Asset Management GmbH now owns 386,244 shares of the company's stock worth $66,828,000 after acquiring an additional 171,261 shares in the last quarter. Parsifal Capital Management LP bought a new position in Grand Canyon Education in the 4th quarter worth about $26,238,000. Finally, Nuveen LLC bought a new position in Grand Canyon Education in the 1st quarter worth about $20,906,000. 94.17% of the stock is currently owned by institutional investors.

Grand Canyon Education Stock Performance

NASDAQ:LOPE traded up $3.62 during midday trading on Tuesday, reaching $202.97. 241,785 shares of the stock traded hands, compared to its average volume of 327,555. Grand Canyon Education, Inc. has a 12-month low of $130.69 and a 12-month high of $203.18. The business has a 50-day moving average of $181.59 and a two-hundred day moving average of $181.13. The stock has a market capitalization of $5.70 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.47 and a beta of 0.79.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $240.90 million. During the same quarter in the prior year, the company posted $1.19 earnings per share. Grand Canyon Education's revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts anticipate that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LOPE. 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. BMO Capital Markets lowered 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. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $215.00 price target on shares of Grand Canyon Education in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target 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.