JPMorgan Chase & Co. cut its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 97.7% during the first quarter, Holdings Channel reports. The firm owned 1,751 shares of the company’s stock after selling 74,011 shares during the period. JPMorgan Chase & Co.’s holdings in Grand Canyon Education were worth $125,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Chesapeake Asset Management LLC bought a new stake in shares of Grand Canyon Education during the first quarter valued at approximately $1,750,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Grand Canyon Education by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,697 shares of the company’s stock valued at $193,000 after buying an additional 129 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Grand Canyon Education by 27.9% in the first quarter. Hood River Capital Management LLC now owns 219,624 shares of the company’s stock valued at $15,727,000 after buying an additional 47,928 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Grand Canyon Education by 15.7% in the first quarter. Parametric Portfolio Associates LLC now owns 148,684 shares of the company’s stock valued at $10,647,000 after buying an additional 20,138 shares during the last quarter. Finally, Engineers Gate Manager LP increased its stake in shares of Grand Canyon Education by 26.1% in the first quarter. Engineers Gate Manager LP now owns 49,733 shares of the company’s stock valued at $3,561,000 after buying an additional 10,284 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

Shares of Grand Canyon Education, Inc. (LOPE) opened at 80.42 on Wednesday. The stock has a market capitalization of $3.87 billion, a P/E ratio of 22.20 and a beta of 1.48. The company’s 50 day moving average price is $77.75 and its 200 day moving average price is $71.34. Grand Canyon Education, Inc. has a one year low of $39.07 and a one year high of $85.94.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. The company had revenue of $218.30 million during the quarter, compared to the consensus estimate of $213.08 million. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. On average, equities analysts expect that Grand Canyon Education, Inc. will post $3.83 earnings per share for the current year.

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Several equities research analysts recently commented on the company. BidaskClub downgraded Grand Canyon Education from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Barrington Research reiterated an “outperform” rating and set a $89.00 target price (up from $85.00) on shares of Grand Canyon Education in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded Grand Canyon Education from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, August 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Grand Canyon Education currently has an average rating of “Buy” and an average price target of $78.50.

In other news, CEO Brian E. Mueller sold 30,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $79.34, for a total transaction of $2,380,200.00. Following the completion of the sale, the chief executive officer now owns 311,524 shares in the company, valued at approximately $24,716,314.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO William Stan Meyer sold 20,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $79.38, for a total value of $1,587,600.00. Following the sale, the chief operating officer now owns 118,459 shares of the company’s stock, valued at approximately $9,403,275.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,116 shares of company stock valued at $9,951,012. 3.00% of the stock is currently owned by corporate insiders.

About Grand Canyon Education

Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.

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

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