Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

A number of other hedge funds have also modified their holdings of LOPE. GeoWealth Management LLC bought a new stake in Grand Canyon Education during the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Grand Canyon Education in the fourth quarter valued at about $32,000. UMB Bank n.a. raised its position in Grand Canyon Education by 107.8% in 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 in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Grand Canyon Education in the fourth quarter worth about $59,000. Finally, Blue Trust Inc. raised its position in Grand Canyon Education by 20.5% in the first quarter. Blue Trust Inc. now owns 577 shares of the company's stock worth $100,000 after purchasing an additional 98 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Barrington Research raised their price target on shares of Grand Canyon Education from $205.00 to $215.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets reduced their price target on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a research report on Monday, July 7th.

Grand Canyon Education Stock Down 0.0%

Shares of NASDAQ:LOPE opened at $172.78 on Tuesday. Grand Canyon Education, Inc. has a 12 month low of $130.69 and a 12 month high of $202.28. The company's fifty day simple moving average is $189.30 and its 200 day simple moving average is $179.04. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.32 and a beta of 0.77.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.06. The company had revenue of $289.31 million for the quarter, compared to analyst estimates of $287.18 million. Grand Canyon Education had a net margin of 21.94% and a return on equity of 30.94%. Grand Canyon Education's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 EPS. Research analysts expect that Grand Canyon Education, Inc. will post 8.81 earnings per share 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.

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