Grand Canyon Education, Inc. $LOPE Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Grand Canyon Education by 2.8%, now holding approximately 10.00% of the company, valued at $491.65 million.
• Multiple hedge funds, such as OneDigital and Bessemer Group, have made significant investments or changes in their positions in Grand Canyon Education during the first quarter.
• Grand Canyon Education reported an earnings beat with $1.53 EPS, exceeding analyst estimates, and a revenue increase of 8.8% year-over-year, signaling strong financial performance.

Vanguard Group Inc. lowered its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,841,548 shares of the company's stock after selling 82,612 shares during the period. Vanguard Group Inc. owned 10.00% of Grand Canyon Education worth $491,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OneDigital Investment Advisors LLC purchased a new position in Grand Canyon Education in the 1st quarter worth $232,000. Convergence Financial LLC purchased a new position in shares of Grand Canyon Education in the first quarter worth about $249,000. Bessemer Group Inc. lifted its holdings in shares of Grand Canyon Education by 244.2% during the first quarter. Bessemer Group Inc. now owns 716 shares of the company's stock worth $124,000 after purchasing an additional 508 shares during the period. 111 Capital purchased a new stake in Grand Canyon Education in the fourth quarter valued at approximately $528,000. Finally, Farther Finance Advisors LLC increased its holdings in Grand Canyon Education by 135.5% in the 1st quarter. Farther Finance Advisors LLC now owns 3,113 shares of the company's stock worth $550,000 after buying an additional 1,791 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Stock Performance

NASDAQ LOPE traded up $1.77 during mid-day trading on Tuesday, reaching $201.12. 27,911 shares of the stock were exchanged, compared to its average volume of 218,216. The company has a market capitalization of $5.65 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.45 and a beta of 0.79. The business's 50 day moving average is $181.20 and its 200-day moving average is $180.98. Grand Canyon Education, Inc. has a 1 year low of $130.69 and a 1 year high of $202.84.

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 analysts' consensus estimates of $1.37 by $0.16. The firm 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%. The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.19 EPS. Equities analysts predict that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

LOPE has been the topic of several recent research reports. Barrington Research reaffirmed an "outperform" rating and issued a $215.00 price objective on shares of Grand Canyon Education in a report on Thursday, August 7th. BMO Capital Markets decreased their target price on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research report on Monday, July 7th. Finally, Wall Street Zen raised Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

About Grand Canyon Education

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.