Envestnet Asset Management Inc. Has $32.35 Million Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Envestnet Asset Management Inc. cut its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,954 shares of the company's stock after selling 10,211 shares during the quarter. Envestnet Asset Management Inc. owned 0.65% of Grand Canyon Education worth $32,347,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Grand Canyon Education in the 4th quarter worth $57,838,000. T. Rowe Price Investment Management Inc. bought a new position in Grand Canyon Education in the 4th quarter worth $38,066,000. GAMMA Investing LLC raised its holdings 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 during the period. FMR LLC raised its holdings in Grand Canyon Education by 14.3% in the 4th quarter. FMR LLC now owns 1,513,249 shares of the company's stock worth $247,870,000 after acquiring an additional 189,843 shares during the period. Finally, Parsifal Capital Management LP bought a new position in Grand Canyon Education in the 4th quarter worth $26,238,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on LOPE. Wall Street Zen downgraded shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Barrington Research boosted their price objective on shares of Grand Canyon Education from $205.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets dropped their price objective 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.

Grand Canyon Education Stock Performance

NASDAQ:LOPE traded up $1.24 during trading hours on Friday, hitting $171.66. The stock had a trading volume of 67,112 shares, compared to its average volume of 183,531. Grand Canyon Education, Inc. has a one year low of $130.69 and a one year high of $202.28. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.29 and a beta of 0.77. The business's 50 day moving average is $188.03 and its 200-day moving average is $178.96.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $287.18 million. During the same quarter in the prior year, the firm earned $2.35 earnings per share. The firm's revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal 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.