Virtu Financial LLC raised its holdings in shares of Grand Canyon Education Inc (NASDAQ:LOPE) by 116.5% during the third quarter, HoldingsChannel reports. The fund owned 6,226 shares of the company’s stock after purchasing an additional 3,350 shares during the quarter. Virtu Financial LLC’s holdings in Grand Canyon Education were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in Grand Canyon Education by 0.6% during the 3rd quarter. State Street Corp now owns 618,117 shares of the company’s stock worth $60,699,000 after acquiring an additional 3,429 shares during the period. Voya Financial Advisors Inc. boosted its stake in shares of Grand Canyon Education by 9.7% in the 3rd quarter. Voya Financial Advisors Inc. now owns 7,960 shares of the company’s stock valued at $791,000 after purchasing an additional 703 shares in the last quarter. Voya Investment Management LLC lifted its stake in Grand Canyon Education by 4.3% in the third quarter. Voya Investment Management LLC now owns 9,234 shares of the company’s stock worth $907,000 after purchasing an additional 377 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Grand Canyon Education during the third quarter valued at about $19,585,000. Finally, TimesSquare Capital Management LLC grew its stake in shares of Grand Canyon Education by 2.4% during the third quarter. TimesSquare Capital Management LLC now owns 756,100 shares of the company’s stock valued at $74,249,000 after buying an additional 17,400 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on LOPE shares. BMO Capital Markets lowered their price objective on Grand Canyon Education from $126.00 to $116.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. BidaskClub cut shares of Grand Canyon Education from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 22nd. ValuEngine raised Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Barrington Research set a $145.00 price objective on Grand Canyon Education and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Zacks Investment Research downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $126.25.
Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Wednesday, November 6th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.09. The business had revenue of $193.30 million during the quarter, compared to analysts’ expectations of $191.75 million. Grand Canyon Education had a net margin of 34.73% and a return on equity of 20.50%. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. As a group, research analysts predict that Grand Canyon Education Inc will post 5.49 earnings per share for the current fiscal year.
In related news, insider Joseph N. Mildenhall sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.75, for a total transaction of $217,500.00. Following the completion of the sale, the insider now owns 56,809 shares of the company’s stock, valued at $6,177,978.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc provides education services in the United States. It offers technology and academic, counseling and support, and marketing and communication services, as well as back office services, such as financial aid processing, accounting, reporting, tax, human resources, and procurement services to the Grand Canyon University.
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