Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 81.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,014 shares of the company’s stock after selling 8,740 shares during the quarter. Cresset Asset Management LLC’s holdings in Grand Canyon Education were worth $330,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Balyasny Asset Management L.P. increased its stake in Grand Canyon Education by 247.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 85,410 shares of the company’s stock valued at $13,990,000 after purchasing an additional 60,811 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Grand Canyon Education by 15.5% in the 4th quarter. BNP Paribas Financial Markets now owns 14,660 shares of the company’s stock valued at $2,401,000 after purchasing an additional 1,972 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Grand Canyon Education in the 4th quarter valued at approximately $308,000. Schonfeld Strategic Advisors LLC increased its stake in Grand Canyon Education by 13.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 8,750 shares of the company’s stock valued at $1,433,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in Grand Canyon Education by 8.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 2,339 shares of the company’s stock valued at $383,000 after purchasing an additional 181 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $197.44 on Friday. The stock has a fifty day moving average of $177.07 and a two-hundred day moving average of $171.45. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.42 and a beta of 0.80. Grand Canyon Education, Inc. has a fifty-two week low of $130.69 and a fifty-two week high of $202.28.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.06. The company had revenue of $289.31 million during the quarter, compared to the consensus estimate of $287.18 million. Grand Canyon Education had a return on equity of 30.67% and a net margin of 21.90%. Grand Canyon Education’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 earnings per share. On average, analysts forecast that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal year.

Analysts Set New Price Targets

LOPE has been the subject of several research analyst reports. Barrington Research raised their price objective on Grand Canyon Education from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. StockNews.com downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets raised their price target on Grand Canyon Education from $181.00 to $202.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st.

Grand Canyon Education Profile

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.