Grand Canyon Education, Inc. (LOPE) Shares Sold by Franklin Resources Inc.
Franklin Resources Inc. decreased its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 21.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,084,718 shares of the company’s stock after selling 293,296 shares during the period. Franklin Resources Inc. owned 2.25% of Grand Canyon Education worth $85,053,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in Grand Canyon Education by 586.1% during the second quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock worth $112,000 after purchasing an additional 1,225 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Grand Canyon Education by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,827 shares of the company’s stock worth $143,000 after buying an additional 139 shares during the period. Fifth Third Bancorp grew its stake in Grand Canyon Education by 10.8% during the first quarter. Fifth Third Bancorp now owns 2,262 shares of the company’s stock worth $162,000 after buying an additional 220 shares during the period. Valley National Advisers Inc. grew its stake in Grand Canyon Education by 23.8% during the first quarter. Valley National Advisers Inc. now owns 2,562 shares of the company’s stock worth $183,000 after buying an additional 492 shares during the period. Finally, Bronfman E.L. Rothschild L.P. grew its stake in Grand Canyon Education by 5.0% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,697 shares of the company’s stock worth $193,000 after buying an additional 129 shares during the period. 96.57% of the stock is owned by hedge funds and other institutional investors.
Grand Canyon Education, Inc. (NASDAQ LOPE) opened at 82.12 on Wednesday. The stock has a 50 day moving average of $79.22 and a 200 day moving average of $75.53. Grand Canyon Education, Inc. has a 52 week low of $39.07 and a 52 week high of $85.94. The stock has a market capitalization of $3.88 billion, a P/E ratio of 22.67 and a beta of 1.40.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data 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 business had revenue of $218.30 million for the quarter, compared to the consensus estimate of $213.08 million. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. Grand Canyon Education’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $0.59 earnings per share. On average, equities research analysts predict that Grand Canyon Education, Inc. will post $3.83 earnings per share for the current fiscal year.
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In other news, COO William Stan Meyer sold 1,315 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $80.35, for a total value of $105,660.25. Following the sale, the chief operating officer now owns 99,774 shares in the company, valued at $8,016,840.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian E. Mueller sold 29,788 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $77.12, for a total transaction of $2,297,250.56. Following the completion of the sale, the chief executive officer now owns 311,312 shares in the company, valued at approximately $24,008,381.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,231 shares of company stock worth $5,128,139. 3.00% of the stock is currently owned by corporate insiders.
LOPE has been the subject of several research reports. BidaskClub downgraded shares of Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. ValuEngine upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating and set a $91.00 price objective for the company. in a research note on Wednesday, June 21st. Finally, Barrington Research reiterated an “outperform” rating and set a $89.00 price objective (up from $85.00) on shares of Grand Canyon Education in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $78.50.
Grand Canyon Education Company Profile
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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