Oppenheimer Asset Management Inc. Cuts Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Oppenheimer Asset Management Inc. trimmed its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,058 shares of the company's stock after selling 2,242 shares during the period. Oppenheimer Asset Management Inc. owned about 0.24% of Grand Canyon Education worth $12,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOPE. GeoWealth Management LLC bought a new position in shares of Grand Canyon Education during the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new position in Grand Canyon Education in the fourth quarter worth about $32,000. UMB Bank n.a. raised its stake 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 buying an additional 165 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Grand Canyon Education in the fourth quarter worth about $59,000. Finally, Blue Trust Inc. raised its stake 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 buying an additional 98 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LOPE has been the subject of a number of research reports. Wall Street Zen downgraded shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Barrington Research increased their price target on shares of Grand Canyon Education from $205.00 to $215.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, BMO Capital Markets increased their price target on shares of Grand Canyon Education from $208.00 to $222.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd.

Grand Canyon Education Price Performance

LOPE stock traded down $3.61 during trading on Wednesday, reaching $185.47. The company had a trading volume of 172,469 shares, compared to its average volume of 182,621. Grand Canyon Education, Inc. has a 52 week low of $130.69 and a 52 week high of $202.28. The company has a market cap of $5.26 billion, a P/E ratio of 23.27, a PEG ratio of 1.44 and a beta of 0.79. The business has a 50 day moving average of $188.12 and a 200 day moving average of $177.37.

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

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.