Trust Point Inc. Cuts Stake in Grand Canyon Education, Inc. $LOPE

Key Points

• Trust Point Inc. reduced its stake in Grand Canyon Education, Inc. by 26.2%, owning 8,435 shares post-sale, valued at approximately $1,594,000.
• Grand Canyon Education received upgrades from analysts, including a shift from "hold" to "buy" by Wall Street Zen, with an average price target of $203.67.
• The company reported earnings of $1.53 per share for the latest quarter, exceeding expectations, with revenue up 8.8% year-over-year.

Trust Point Inc. lowered its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 26.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,435 shares of the company's stock after selling 3,002 shares during the quarter. Trust Point Inc.'s holdings in Grand Canyon Education were worth $1,594,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LOPE. SVB Wealth LLC acquired a new stake in shares of Grand Canyon Education in the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Grand Canyon Education during the 1st quarter worth approximately $35,000. WPG Advisers LLC acquired a new stake in Grand Canyon Education during the 1st quarter worth approximately $44,000. Migdal Insurance & Financial Holdings Ltd. raised 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 during the last quarter. Finally, UMB Bank n.a. raised 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 during the last quarter. Institutional investors own 94.17% of the company's stock.

Grand Canyon Education Price Performance

LOPE stock traded up $1.61 during midday trading on Tuesday, hitting $213.57. The stock had a trading volume of 28,416 shares, compared to its average volume of 220,300. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. The business has a 50-day moving average of $191.87 and a two-hundred day moving average of $185.32. Grand Canyon Education, Inc. has a 52-week low of $130.69 and a 52-week high of $214.14.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.53 EPS for the quarter, topping 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 business had revenue of $247.50 million for the quarter, compared to the consensus estimate of $240.90 million. During the same period in the previous year, the company posted $1.19 earnings per share. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts predict that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LOPE. Wall Street Zen raised shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barrington Research reissued an "outperform" rating and set a $230.00 target price on shares of Grand Canyon Education in a research report on Tuesday. Finally, 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. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average 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.