Riverbridge Partners LLC Sells 160,397 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Riverbridge Partners LLC decreased its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,268,525 shares of the company's stock after selling 160,397 shares during the quarter. Grand Canyon Education accounts for approximately 3.5% of Riverbridge Partners LLC's holdings, making the stock its biggest holding. Riverbridge Partners LLC owned 4.42% of Grand Canyon Education worth $219,480,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Grand Canyon Education by 20.5% in the 1st quarter. Blue Trust Inc. now owns 577 shares of the company's stock worth $100,000 after purchasing an additional 98 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Grand Canyon Education by 14.8% in the 1st quarter. QRG Capital Management Inc. now owns 1,787 shares of the company's stock worth $309,000 after purchasing an additional 231 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Grand Canyon Education by 6.1% in the 1st quarter. Fifth Third Bancorp now owns 3,995 shares of the company's stock worth $691,000 after purchasing an additional 230 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in shares of Grand Canyon Education in the 1st quarter worth about $352,000. Finally, SG Americas Securities LLC bought a new stake in shares of Grand Canyon Education in the 1st quarter worth about $2,585,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LOPE shares. BMO Capital Markets upped their target price on shares of Grand Canyon Education from $208.00 to $222.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Barrington Research increased 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.

Grand Canyon Education Stock Up 1.6%

NASDAQ:LOPE traded up $3.08 during mid-day trading on Monday, reaching $191.67. 147,244 shares of the company were exchanged, compared to its average volume of 183,436. The stock has a market cap of $5.44 billion, a PE ratio of 24.05, a PEG ratio of 1.44 and a beta of 0.79. Grand Canyon Education, Inc. has a 12 month low of $130.69 and a 12 month high of $202.28. The company has a fifty day moving average of $187.76 and a 200 day moving average of $177.23.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.57 earnings per share (EPS) for the quarter, beating 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%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 EPS. On average, equities research analysts anticipate that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal year.

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.