Lazard Asset Management LLC reduced its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE – Free Report) by 52.2% in the 3rd quarter, according to the company's most recent disclosures filed with the SEC. The fund now owns 14,218 shares of the company's stock after selling 15,497 shares during the quarter. Lazard Asset Management LLC's holdings in Grand Canyon Education were valued at $1,661,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings in LOPE. Quarry LP bought a new position in Grand Canyon Education in the 1st quarter valued at $33,000. Cornerstone Planning Group LLC acquired a new position in Grand Canyon Education during the 2nd quarter worth approximately $33,000. CWM LLC raised its stake in Grand Canyon Education by 98.4% in the 3rd quarter. CWM LLC now owns 373 shares of the company's stock valued at $44,000 after purchasing an additional 185 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Grand Canyon Education by 182.3% in the 1st quarter. NewEdge Advisors LLC now owns 463 shares of the company's stock valued at $53,000 after acquiring an additional 299 shares during the last quarter. Finally, Financial Management Professionals Inc. increased his stake in shares of Grand Canyon Education by 4,480.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 458 shares of the company's stock valued at $54,000 after acquiring an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.
Analyst upgrades and downgrades
Several research companies are considering LOPE. Barrington Research increased their target price on shares of Grand Canyon Education from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. StockNews.com downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th.
Check out the latest report on LOPE
Grand Canyon Education stock falls 1.0%
Grand Canyon Education stock opened at $132.80 on Friday. The stock's 50-day moving average price is $129.64 and its 200-day moving average price is $126.96. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 19.53x, a price-to-earnings ratio of 1.17x, and a beta of 0.59x. Grand Canyon Education, Inc. has a 52-week low of $99.65 and a 52-week high of $144.94.
Grand Canyon Education (NASDAQ:LOPE – Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.05. The company had revenue of $278.28 million for the quarter, compared to analyst estimates of $275.0 million. Grand Canyon Education had a net profit margin of 21.33% and a return on equity of 31.75%. Research analysts expect that Grand Canyon Education, Inc.'s EPS for the current fiscal year will be 7.65.
About Grand Canyon Education
(Free report)
Grand Canyon Education, Inc provides educational services to universities in the United States. We provide technology services such as learning management systems, internal administration, infrastructure, and support services. Academic services such as programs and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites. Counseling and support services, including admissions, financial aid, field experience and other counseling services.
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