Covenant Asset Management LLC Grows Stake in Grand Canyon Education Inc (LOPE)
Covenant Asset Management LLC grew its position in Grand Canyon Education Inc (NASDAQ:LOPE) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,595 shares of the company’s stock after acquiring an additional 635 shares during the quarter. Covenant Asset Management LLC’s holdings in Grand Canyon Education were worth $1,665,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Grand Canyon Education by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,827 shares of the company’s stock valued at $143,000 after purchasing an additional 139 shares during the last quarter. CAPROCK Group Inc. acquired a new stake in shares of Grand Canyon Education in the third quarter valued at approximately $225,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Grand Canyon Education in the second quarter valued at approximately $227,000. Parametrica Management Ltd acquired a new stake in shares of Grand Canyon Education in the third quarter valued at approximately $227,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of Grand Canyon Education in the third quarter valued at approximately $231,000. Institutional investors and hedge funds own 96.16% of the company’s stock.
Grand Canyon Education Inc (NASDAQ LOPE) traded up $0.68 during trading hours on Friday, hitting $92.58. The company had a trading volume of 175,500 shares, compared to its average volume of 203,750. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $4,470.00, a PE ratio of 24.30, a PEG ratio of 1.66 and a beta of 1.35. Grand Canyon Education Inc has a 12-month low of $56.52 and a 12-month high of $96.15.
Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Wednesday, November 1st. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.05. The company had revenue of $236.21 million during the quarter, compared to analysts’ expectations of $231.43 million. Grand Canyon Education had a return on equity of 21.40% and a net margin of 19.32%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. sell-side analysts forecast that Grand Canyon Education Inc will post 3.9 EPS for the current year.
Several equities research analysts recently commented on LOPE shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price target on shares of Grand Canyon Education in a report on Monday, September 18th. Robert W. Baird reaffirmed a “buy” rating and issued a $100.00 price target on shares of Grand Canyon Education in a report on Friday, December 1st. BidaskClub cut Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Zacks Investment Research raised Grand Canyon Education from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Friday, December 15th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $102.00 price target on shares of Grand Canyon Education in a report on Monday, December 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Grand Canyon Education has a consensus rating of “Buy” and an average price target of $100.80.
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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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