State of Alaska Department of Revenue Trims Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

State of Alaska Department of Revenue cut its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,246 shares of the company’s stock after selling 140 shares during the period. State of Alaska Department of Revenue’s holdings in Grand Canyon Education were worth $11,669,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in Grand Canyon Education in the third quarter worth about $28,000. True Wealth Design LLC bought a new stake in shares of Grand Canyon Education during the 3rd quarter worth approximately $31,000. Financial Life Planners purchased a new position in Grand Canyon Education during the 4th quarter valued at $37,000. Versant Capital Management Inc boosted its holdings in Grand Canyon Education by 66.0% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the company’s stock valued at $69,000 after acquiring an additional 167 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Grand Canyon Education in the 3rd quarter valued at $60,000. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LOPE has been the subject of several research analyst reports. Robert W. Baird lifted their target price on Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barrington Research reissued an “outperform” rating and issued a $180.00 price objective on shares of Grand Canyon Education in a research report on Monday, January 27th. StockNews.com lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets boosted their price target on Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

Grand Canyon Education Price Performance

NASDAQ:LOPE opened at $181.57 on Friday. The company has a 50-day moving average of $167.32 and a 200 day moving average of $153.08. Grand Canyon Education, Inc. has a 1-year low of $118.48 and a 1-year high of $183.00. The firm has a market cap of $5.29 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.01. Grand Canyon Education had a net margin of 22.09% and a return on equity of 31.01%. The business had revenue of $238.30 million for the quarter, compared to analyst estimates of $239.69 million. During the same period in the previous year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that Grand Canyon Education, Inc. will post 8.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total value of $249,105.00. Following the completion of the sale, the chief technology officer now owns 21,174 shares of the company’s stock, valued at approximately $3,516,366.18. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company 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.