Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 41.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,783 shares of the company's stock after selling 5,462 shares during the period. M&T Bank Corp's holdings in Grand Canyon Education were worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James & Associates grew its stake in shares of Grand Canyon Education by 11.7% in the third quarter. Raymond James & Associates now owns 66,243 shares of the company's stock worth $7,742,000 after acquiring an additional 6,930 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Grand Canyon Education by 11.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,005 shares of the company's stock valued at $702,000 after buying an additional 607 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Grand Canyon Education during the 3rd quarter valued at $827,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Grand Canyon Education in the third quarter worth $398,000. Finally, Capital Insight Partners LLC increased its position in Grand Canyon Education by 10.7% during the third quarter. Capital Insight Partners LLC now owns 2,612 shares of the company's stock valued at $305,000 after acquiring an additional 252 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Grand Canyon Education Trading Down 0.3 %

Shares of LOPE stock traded down $0.47 on Friday, reaching $148.79. The company's stock had a trading volume of 262,913 shares, compared to its average volume of 206,426. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60. The stock's fifty day simple moving average is $133.85 and its 200-day simple moving average is $132.85. Grand Canyon Education, Inc. has a 1 year low of $99.65 and a 1 year high of $156.56.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.22 by $0.13. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. The firm had revenue of $274.68 million for the quarter, compared to the consensus estimate of $272.42 million. During the same period in the previous year, the firm posted $2.00 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Grand Canyon Education, Inc. will post 7.8 earnings per share for the current year.

Analysts Set New Price Targets

LOPE has been the topic of several research reports. Barrington Research raised their target price on Grand Canyon Education from $160.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday. BMO Capital Markets boosted their target price on shares of Grand Canyon Education from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Robert W. Baird upped their target price on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday.

Insiders Place Their Bets

In related news, CTO Dilek Marsh sold 1,500 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the transaction, the chief technology officer now directly owns 25,674 shares in the company, valued at approximately $3,405,656.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

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.