Invesco Ltd. Lowers Holdings in Grand Canyon Education, Inc. $LOPE

Key Points

• Invesco Ltd. reduced its stake in Grand Canyon Education by 28.1%, now holding approximately 1.25% of the company worth $61.51 million after selling 139,220 shares.
• Grand Canyon Education reported $1.53 EPS for the last quarter, exceeding estimates by $0.16 and experiencing an 8.8% revenue increase year-over-year.
• Major institutional investments include Sterling Capital increasing its position by 44.7% and Barclays PLC raising its stake by 152.3% in recent months.

Invesco Ltd. lessened its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 28.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 355,486 shares of the company's stock after selling 139,220 shares during the quarter. Invesco Ltd. owned about 1.25% of Grand Canyon Education worth $61,506,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new stake in Grand Canyon Education in the fourth quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in 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 acquiring an additional 96 shares in the last quarter. UMB Bank n.a. raised its holdings in 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 acquiring an additional 165 shares in the last quarter. Cypress Capital Management LLC WY acquired a new stake in Grand Canyon Education in the first quarter valued at approximately $65,000. Finally, Bayforest Capital Ltd acquired a new stake in Grand Canyon Education in the first quarter valued at approximately $75,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Grand Canyon Education Price Performance

Shares of LOPE traded up $3.62 during mid-day trading on Tuesday, reaching $202.97. 241,785 shares of the company's stock were exchanged, compared to its average volume of 219,650. The stock has a market capitalization of $5.70 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.45 and a beta of 0.79. The business's fifty day simple moving average is $181.20 and its 200-day simple moving average is $180.98. Grand Canyon Education, Inc. has a 52-week low of $130.69 and a 52-week high of $203.18.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) 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 analyst estimates of $240.90 million. During the same period last year, the firm posted $1.19 earnings per share. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts predict that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

LOPE has been the topic of several analyst reports. Wall Street Zen raised shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barrington Research reaffirmed an "outperform" rating and issued a $215.00 target price on shares of Grand Canyon Education in a report on Thursday, August 7th. Finally, BMO Capital Markets reduced 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price 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.