Grand Canyon Education, Inc. $LOPE Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management reduced its stake in Grand Canyon Education by 14.6%, selling 6,230 shares to hold approximately 36,357 shares worth $6.34 million.
• Grand Canyon Education reported a strong quarterly performance, with $1.53 earnings per share, surpassing analysts' estimates of $1.37, and a revenue of $247.5 million, representing an 8.8% year-over-year increase.
• Analysts maintain a "Buy" rating for Grand Canyon Education, with a consensus price target of $203.67, reflecting positive growth outlook.

Erste Asset Management GmbH lowered its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,357 shares of the company's stock after selling 6,230 shares during the period. Erste Asset Management GmbH owned approximately 0.13% of Grand Canyon Education worth $6,339,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC bought a new position in shares of Grand Canyon Education in the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Grand Canyon Education in the first quarter valued at $35,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Grand Canyon Education by 58.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock valued at $45,000 after buying an additional 96 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Grand Canyon Education by 107.8% in the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock valued at $55,000 after buying an additional 165 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in shares of Grand Canyon Education in the first quarter valued at $65,000. Institutional investors own 94.17% of the company's stock.

Grand Canyon Education Stock Down 0.7%

Shares of NASDAQ:LOPE opened at $201.47 on Thursday. The company's fifty day moving average is $181.95 and its two-hundred day moving average is $181.27. Grand Canyon Education, Inc. has a 12-month low of $130.69 and a 12-month high of $203.70. The company has a market cap of $5.66 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share for the quarter, topping 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 business had revenue of $247.50 million for the quarter, compared to the consensus estimate of $240.90 million. During the same period in the prior year, the business 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. Equities 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 research firms have issued reports on LOPE. Barrington Research reaffirmed an "outperform" rating and issued a $215.00 price target on shares of Grand Canyon Education in a report on Thursday, August 7th. BMO Capital Markets cut their target price on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a research note on Monday, July 7th. Finally, Wall Street Zen raised shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Grand Canyon Education presently has a consensus rating of "Buy" and a consensus target price of $203.67.

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.

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.