Granite Investment Partners LLC Sells 5,836 Shares of Grand Canyon Education, Inc. $LOPE

Granite Investment Partners LLC lowered its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 50.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,730 shares of the company’s stock after selling 5,836 shares during the period. Granite Investment Partners LLC’s holdings in Grand Canyon Education were worth $1,258,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in Grand Canyon Education by 4,339.5% during the first quarter. NewEdge Advisors LLC now owns 1,909 shares of the company’s stock worth $330,000 after buying an additional 1,866 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Grand Canyon Education by 14.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 115,508 shares of the company’s stock valued at $19,985,000 after acquiring an additional 15,019 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Grand Canyon Education by 2.1% during the 1st quarter. Empowered Funds LLC now owns 7,925 shares of the company’s stock valued at $1,371,000 after acquiring an additional 161 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Grand Canyon Education by 7.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,214 shares of the company’s stock worth $21,318,000 after purchasing an additional 8,421 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Grand Canyon Education by 156.9% in the first quarter. Jane Street Group LLC now owns 37,350 shares of the company’s stock worth $6,462,000 after purchasing an additional 22,812 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Barrington Research restated an “outperform” rating and set a $230.00 price objective on shares of Grand Canyon Education in a research report on Thursday, February 19th. Finally, Weiss Ratings lowered shares of Grand Canyon Education from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $220.00.

Grand Canyon Education Price Performance

Shares of NASDAQ LOPE opened at $153.90 on Tuesday. Grand Canyon Education, Inc. has a one year low of $149.37 and a one year high of $223.04. The firm’s 50 day simple moving average is $169.38 and its two-hundred day simple moving average is $184.31. The stock has a market capitalization of $4.18 billion, a P/E ratio of 19.94, a PEG ratio of 1.04 and a beta of 0.74.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.02. Grand Canyon Education had a net margin of 19.54% and a return on equity of 33.28%. The firm had revenue of $308.12 million during the quarter, compared to analyst estimates of $307.92 million. During the same period in the previous year, the business posted $2.95 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Grand Canyon Education Profile

Grand Canyon Education, Inc provides a suite of higher‐education services through a long-term agreement with Grand Canyon University (GCU), one of the nation’s largest private Christian universities. The company’s offerings encompass a full range of academic and operational support functions, including enrollment management, student recruitment, curriculum development, instructional delivery, and technology infrastructure. Through its online program management capabilities, Grand Canyon Education helps design, market and deliver undergraduate, graduate and certificate programs to meet the needs of both traditional and non‐traditional learners.

Core services include digital marketing, admissions support, student success coaching, learning management systems and faculty recruitment.