State of Alaska Department of Revenue Reduces Stock Holdings in Grand Canyon Education, Inc. $LOPE

Key Points

• The State of Alaska Department of Revenue cut its holdings in Grand Canyon Education, Inc. by 95.6%, selling 68,190 shares and leaving it with just 3,141 shares valued at approximately $593,000.
• Various institutional investors have recently increased their positions in Grand Canyon Education, with notable purchases in the first quarter from SVB Wealth LLC, Caitong International Asset Management, and UMB Bank n.a.
• Grand Canyon Education reported a quarterly earnings surprise, with $1.53 EPS for the quarter, exceeding analysts' estimates and showing an 8.8% increase in revenue compared to the previous year.

State of Alaska Department of Revenue decreased its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 95.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,141 shares of the company's stock after selling 68,190 shares during the period. State of Alaska Department of Revenue's holdings in Grand Canyon Education were worth $593,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LOPE. SVB Wealth LLC purchased a new stake in shares of Grand Canyon Education during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Grand Canyon Education during the first quarter worth $35,000. WPG Advisers LLC purchased a new stake in shares of Grand Canyon Education during the first quarter worth $44,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Grand Canyon Education by 58.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after acquiring an additional 96 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Grand Canyon Education by 107.8% during the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock worth $55,000 after acquiring an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Grand Canyon Education Trading Down 3.1%

Shares of NASDAQ LOPE opened at $209.23 on Wednesday. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.59 and a beta of 0.76. Grand Canyon Education, Inc. has a 1-year low of $130.69 and a 1-year high of $220.79. The stock's 50-day moving average is $202.02 and its 200 day moving average is $188.80.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.16. The company had revenue of $247.50 million for the quarter, compared to analysts' expectations of $240.90 million. Grand Canyon Education had a return on equity of 31.50% and a net margin of 22.15%.Grand Canyon Education's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.19 EPS. On average, analysts forecast that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LOPE shares. Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. BMO Capital Markets lowered their price objective on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a research report on Monday, July 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Grand Canyon Education in a research report on Saturday, September 27th. Finally, Barrington Research reiterated an "outperform" rating and issued a $230.00 price objective on shares of Grand Canyon Education in a research report on Tuesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $208.67.

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.

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