Grand Canyon Education Inc (NASDAQ:LOPE) Shares Sold by BlackRock Inc.

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BlackRock Inc. reduced its stake in shares of Grand Canyon Education Inc (NASDAQ:LOPE) by 10.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,988,402 shares of the company’s stock after selling 348,682 shares during the period. BlackRock Inc. owned approximately 6.20% of Grand Canyon Education worth $313,541,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in LOPE. Schwab Charles Investment Management Inc. raised its holdings in shares of Grand Canyon Education by 4.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 260,063 shares of the company’s stock valued at $23,284,000 after purchasing an additional 10,412 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Grand Canyon Education by 46.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,673 shares of the company’s stock valued at $239,000 after purchasing an additional 846 shares during the last quarter. Comerica Bank raised its holdings in shares of Grand Canyon Education by 14.8% in the fourth quarter. Comerica Bank now owns 23,776 shares of the company’s stock valued at $2,223,000 after purchasing an additional 3,058 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Grand Canyon Education by 102.2% in the fourth quarter. American Century Companies Inc. now owns 297,674 shares of the company’s stock valued at $26,651,000 after purchasing an additional 150,476 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Grand Canyon Education by 151.0% in the fourth quarter. Teacher Retirement System of Texas now owns 15,620 shares of the company’s stock valued at $1,398,000 after purchasing an additional 9,396 shares during the last quarter. Hedge funds and other institutional investors own 96.28% of the company’s stock.

A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Barrington Research reiterated a “buy” rating and issued a $115.00 price objective on shares of Grand Canyon Education in a report on Monday, April 16th. Finally, Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Friday, May 18th. Seven research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $110.80.

Shares of Grand Canyon Education opened at $116.42 on Tuesday, according to Marketbeat. The firm has a market cap of $5.54 billion, a P/E ratio of 29.40, a PEG ratio of 1.64 and a beta of 1.15. Grand Canyon Education Inc has a 1-year low of $71.00 and a 1-year high of $116.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.66 and a current ratio of 1.66.

Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Wednesday, May 2nd. The company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.13. The business had revenue of $275.68 million for the quarter, compared to the consensus estimate of $274.13 million. Grand Canyon Education had a net margin of 22.07% and a return on equity of 22.00%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. analysts predict that Grand Canyon Education Inc will post 4.83 earnings per share for the current year.

About Grand Canyon Education

Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.

Institutional Ownership by Quarter for Grand Canyon Education (NASDAQ:LOPE)

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