Erste Asset Management GmbH Has $6.34 Million Stock Position in Grand Canyon Education, Inc. $LOPE

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 reduced its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 14.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,357 shares of the company's stock after selling 6,230 shares during the quarter. Erste Asset Management GmbH owned 0.13% of Grand Canyon Education worth $6,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOPE. Pallas Capital Advisors LLC raised its stake in Grand Canyon Education by 5.0% during the 1st quarter. Pallas Capital Advisors LLC now owns 1,355 shares of the company's stock valued at $234,000 after purchasing an additional 65 shares during the last quarter. Diversified Trust Co raised its stake in shares of Grand Canyon Education by 5.4% in the 1st quarter. Diversified Trust Co now owns 1,293 shares of the company's stock valued at $224,000 after buying an additional 66 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Grand Canyon Education by 2.9% during the 1st quarter. Benjamin Edwards Inc. now owns 2,683 shares of the company's stock worth $464,000 after purchasing an additional 75 shares in the last quarter. NDVR Inc. increased its position in shares of Grand Canyon Education by 5.1% during the 4th quarter. NDVR Inc. now owns 1,878 shares of the company's stock worth $308,000 after purchasing an additional 91 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Grand Canyon Education by 58.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after purchasing an additional 96 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Grand Canyon Education Price Performance

LOPE traded up $0.78 on Tuesday, hitting $203.85. 23,339 shares of the stock were exchanged, compared to its average volume of 218,913. Grand Canyon Education, Inc. has a 12 month low of $130.69 and a 12 month high of $207.12. The business has a 50-day moving average of $183.07 and a two-hundred day moving average of $181.80. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 24.67, 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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $240.90 million. During the same quarter in the prior year, the business posted $1.19 earnings per share. Grand Canyon Education's revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on LOPE. Wall Street Zen upgraded shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barrington Research restated an "outperform" rating and set a $215.00 target price on shares of Grand Canyon Education in a report on Thursday, August 7th. Finally, BMO Capital Markets dropped 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 report on Monday, July 7th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $203.67.

Grand Canyon Education Company 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.