Comerica Bank acquired a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,718 shares of the company’s stock, valued at approximately $1,844,000.

Several other hedge funds have also modified their holdings of LOPE. Bank of New York Mellon Corp grew its holdings in shares of Grand Canyon Education by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 566,300 shares of the company’s stock valued at $51,431,000 after acquiring an additional 5,291 shares in the last quarter. Teacher Retirement System of Texas increased its position in Grand Canyon Education by 72.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 6,224 shares of the company’s stock worth $565,000 after purchasing an additional 2,605 shares in the last quarter. Advisor Group Inc. increased its position in Grand Canyon Education by 55.9% during the 3rd quarter. Advisor Group Inc. now owns 9,342 shares of the company’s stock worth $848,000 after purchasing an additional 3,351 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Grand Canyon Education by 73.8% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,221 shares of the company’s stock worth $1,473,000 after buying an additional 6,890 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Grand Canyon Education by 18.0% during the 3rd quarter. New York State Common Retirement Fund now owns 80,861 shares of the company’s stock valued at $7,344,000 after buying an additional 12,356 shares in the last quarter. 96.28% of the stock is owned by institutional investors and hedge funds.

LOPE has been the topic of a number of recent research reports. Barrington Research reissued an “outperform” rating and set a $89.00 price objective (up previously from $85.00) on shares of Grand Canyon Education in a research note on Tuesday, August 8th. BidaskClub raised Grand Canyon Education from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, August 3rd. ValuEngine cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies upped their price objective on shares of Grand Canyon Education from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $97.40.

Grand Canyon Education, Inc. (LOPE) opened at $94.96 on Friday. Grand Canyon Education, Inc. has a 52-week low of $56.40 and a 52-week high of $96.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $4,489.68, a PE ratio of 24.75, a P/E/G ratio of 1.84 and a beta of 1.34.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.05. The firm had revenue of $236.21 million during the quarter, compared to analyst estimates of $231.43 million. Grand Canyon Education had a net margin of 19.32% and a return on equity of 21.40%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. analysts expect that Grand Canyon Education, Inc. will post 3.9 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/12/01/comerica-bank-buys-shares-of-20718-grand-canyon-education-inc-lope.html.

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.

Want to see what other hedge funds are holding LOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grand Canyon Education, Inc. (NASDAQ:LOPE).

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

Receive News & Ratings for Grand Canyon Education Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grand Canyon Education Inc. and related companies with MarketBeat.com's FREE daily email newsletter.