Trust Point Inc. Trims Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Trust Point Inc. reduced its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,437 shares of the company's stock after selling 4,456 shares during the quarter. Trust Point Inc.'s holdings in Grand Canyon Education were worth $1,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOPE. GeoWealth Management LLC purchased a new position in shares of Grand Canyon Education during the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Grand Canyon Education during the fourth quarter worth approximately $32,000. UMB Bank n.a. increased 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 during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Grand Canyon Education during the fourth quarter worth approximately $59,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Grand Canyon Education by 268.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,021 shares of the company's stock worth $167,000 after acquiring an additional 744 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Grand Canyon Education Stock Performance

NASDAQ LOPE opened at $184.86 on Monday. The firm's 50 day moving average price is $185.72 and its 200-day moving average price is $176.37. 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 $5.25 billion, a PE ratio of 23.88, a P/E/G ratio of 1.42 and a beta of 0.79.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.51 by $0.06. Grand Canyon Education had a net margin of 21.90% and a return on equity of 30.67%. The firm had revenue of $289.31 million for the quarter, compared to the consensus estimate of $287.18 million. During the same period last year, the firm earned $2.35 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts forecast that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.

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