Oppenheimer Asset Management Inc. Cuts Holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Oppenheimer Asset Management Inc. lowered its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,300 shares of the company’s stock after selling 2,124 shares during the period. Oppenheimer Asset Management Inc. owned about 0.25% of Grand Canyon Education worth $11,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Stegent Equity Advisors Inc. acquired a new stake in Grand Canyon Education in the fourth quarter valued at approximately $201,000. Ieq Capital LLC raised its holdings in shares of Grand Canyon Education by 9.1% in the 4th quarter. Ieq Capital LLC now owns 3,377 shares of the company’s stock valued at $553,000 after purchasing an additional 282 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Grand Canyon Education by 186.2% during the 4th quarter. Venturi Wealth Management LLC now owns 1,282 shares of the company’s stock worth $210,000 after purchasing an additional 834 shares during the last quarter. Truist Financial Corp lifted its position in shares of Grand Canyon Education by 1.6% during the 4th quarter. Truist Financial Corp now owns 19,397 shares of the company’s stock worth $3,177,000 after purchasing an additional 299 shares during the last quarter. Finally, Monument Capital Management grew its stake in shares of Grand Canyon Education by 2.6% during the fourth quarter. Monument Capital Management now owns 18,747 shares of the company’s stock worth $3,071,000 after purchasing an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $178.18 on Friday. The company has a market capitalization of $5.12 billion, a P/E ratio of 23.02, a PEG ratio of 1.42 and a beta of 0.74. Grand Canyon Education, Inc. has a fifty-two week low of $126.17 and a fifty-two week high of $192.18. The stock has a 50-day simple moving average of $172.13 and a 200-day simple moving average of $156.58.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.02. The company had revenue of $292.57 million during the quarter, compared to analysts’ expectations of $289.62 million. Grand Canyon Education had a return on equity of 30.67% and a net margin of 21.90%. As a group, analysts forecast that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current year.

Insider Activity at Grand Canyon Education

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $166.07, for a total value of $249,105.00. Following the transaction, the chief technology officer now directly owns 21,174 shares in the company, valued at approximately $3,516,366.18. The trade was a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LOPE. StockNews.com upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their target price on Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their price target on shares of Grand Canyon Education from $181.00 to $202.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, Barrington Research raised their price objective on shares of Grand Canyon Education from $180.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th.

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.