Raymond James Financial Inc. Has $9.01 Million Position in Grand Canyon Education, Inc. $LOPE

Key Points

• Raymond James Financial Inc. reduced its stake in Grand Canyon Education, Inc. by 16.8%, holding approximately $9.01 million worth of shares after selling over 10,500 shares in the first quarter.
• Grand Canyon Education reported a net profit margin of 22.15% for the last quarter, with earnings per share of $1.53, surpassing analyst expectations.
• Brokerage analysts maintain a consensus "Buy" rating for Grand Canyon Education, with an average target price of $203.67.

Raymond James Financial Inc. cut its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,100 shares of the company's stock after selling 10,548 shares during the period. Raymond James Financial Inc. owned approximately 0.18% of Grand Canyon Education worth $9,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of LOPE. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grand Canyon Education in the first quarter valued at about $35,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of 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 purchasing an additional 96 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of 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 purchasing an additional 165 shares in the last quarter. Cypress Capital Management LLC WY bought a new stake in shares of Grand Canyon Education in the first quarter valued at about $65,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Grand Canyon Education in the first quarter valued at about $75,000. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LOPE has been the topic of a number of research reports. BMO Capital Markets cut their price target on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a report on Monday, July 7th. Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Barrington Research reiterated an "outperform" rating and set a $215.00 target price on shares of Grand Canyon Education in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $203.67.

Grand Canyon Education Trading Up 0.4%

NASDAQ:LOPE traded up $0.90 on Thursday, hitting $206.44. The company's stock had a trading volume of 54,417 shares, compared to its average volume of 219,154. Grand Canyon Education, Inc. has a one year low of $130.69 and a one year high of $207.22. The stock has a fifty day moving average of $185.13 and a two-hundred day moving average of $182.79. The firm has a market capitalization of $5.80 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.37 by $0.16. Grand Canyon Education had a return on equity of 31.50% and a net margin of 22.15%.The company had revenue of $247.50 million for the quarter, compared to the consensus estimate of $240.90 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Grand Canyon Education, Inc. will post 8.81 EPS 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.