Massachusetts Financial Services Co. MA Decreases Stock Position in Grand Canyon Education, Inc. $LOPE

Key Points

• Massachusetts Financial Services Co. cut its stake in Grand Canyon Education (NASDAQ:LOPE) by 17.8%, selling 50,550 shares to finish the quarter with 232,778 shares (~0.83% ownership) worth about $38.7 million.
• Grand Canyon Education slightly beat quarterly EPS expectations ($3.21 vs. $3.19) and reported $308.12 million in revenue (up 5.3% year-over-year), with a net margin of 19.54% and a return on equity of 33.28%.
• The stock has a $4.58 billion market cap and a PE of 21.85; analysts' consensus is a Moderate Buy with an average price target of $220, and institutional investors hold roughly 94.17% of shares.

Massachusetts Financial Services Co. MA lessened its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,778 shares of the company's stock after selling 50,550 shares during the period. Massachusetts Financial Services Co. MA owned about 0.83% of Grand Canyon Education worth $38,713,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Mather Group LLC. bought a new stake in Grand Canyon Education in the third quarter valued at approximately $29,000. Manning & Napier Advisors LLC bought a new position in shares of Grand Canyon Education in the third quarter worth approximately $32,000. True Wealth Design LLC grew its holdings in shares of Grand Canyon Education by 46.0% in the third quarter. True Wealth Design LLC now owns 203 shares of the company's stock worth $45,000 after purchasing an additional 64 shares during the last quarter. Employees Retirement System of Texas purchased a new position in shares of Grand Canyon Education in the third quarter worth $48,000. Finally, Financial Life Planners purchased a new position in shares of Grand Canyon Education in the third quarter worth $49,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Grand Canyon Education Stock Performance

LOPE opened at $168.70 on Wednesday. The stock has a market capitalization of $4.58 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.09 and a beta of 0.67. The stock's 50 day moving average price is $165.01 and its 200-day moving average price is $174.47. Grand Canyon Education, Inc. has a 52-week low of $149.37 and a 52-week high of $223.04.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.02. The business had revenue of $308.12 million for the quarter, compared to analysts' expectations of $307.92 million. Grand Canyon Education had a net margin of 19.54% and a return on equity of 33.28%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share. Research analysts forecast that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LOPE. Weiss Ratings reissued a "hold (c+)" rating on shares of Grand Canyon Education in a research report on Friday. Barrington Research restated an "outperform" rating and issued a $230.00 price objective on shares of Grand Canyon Education in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $220.00.

Grand Canyon Education Profile

Grand Canyon Education, Inc provides a suite of higher‐education services through a long-term agreement with Grand Canyon University (GCU), one of the nation's largest private Christian universities. The company's offerings encompass a full range of academic and operational support functions, including enrollment management, student recruitment, curriculum development, instructional delivery, and technology infrastructure. Through its online program management capabilities, Grand Canyon Education helps design, market and deliver undergraduate, graduate and certificate programs to meet the needs of both traditional and non‐traditional learners.

Core services include digital marketing, admissions support, student success coaching, learning management systems and faculty recruitment.

Want to see what other hedge funds are holding LOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.