Oppenheimer Asset Management Inc. Sells 1,298 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Oppenheimer Asset Management Inc. trimmed its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,424 shares of the company’s stock after selling 1,298 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Grand Canyon Education were worth $10,557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOPE. SG Americas Securities LLC lifted its holdings in Grand Canyon Education by 29.9% during the 1st quarter. SG Americas Securities LLC now owns 3,192 shares of the company’s stock valued at $435,000 after buying an additional 734 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Grand Canyon Education by 14.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,133 shares of the company’s stock valued at $6,284,000 after purchasing an additional 5,991 shares during the period. Crown Advisors Management Inc. boosted its holdings in shares of Grand Canyon Education by 25.0% in the first quarter. Crown Advisors Management Inc. now owns 25,000 shares of the company’s stock valued at $3,405,000 after purchasing an additional 5,000 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Grand Canyon Education by 17.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 12,397 shares of the company’s stock worth $1,698,000 after purchasing an additional 1,866 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Grand Canyon Education by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,005,381 shares of the company’s stock worth $409,363,000 after purchasing an additional 24,871 shares during the period. 94.17% of the stock is owned by institutional investors.

Grand Canyon Education Trading Down 1.1 %

Shares of NASDAQ LOPE opened at $168.34 on Thursday. Grand Canyon Education, Inc. has a 12-month low of $118.48 and a 12-month high of $173.37. The stock’s fifty day simple moving average is $141.01 and its two-hundred day simple moving average is $142.40. The stock has a market capitalization of $4.91 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.70.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Grand Canyon Education had a return on equity of 31.01% and a net margin of 22.09%. The firm had revenue of $238.30 million during the quarter, compared to analysts’ expectations of $239.69 million. During the same period in the prior year, the business posted $1.26 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the transaction, the chief technology officer now owns 22,674 shares of the company’s stock, valued at $3,202,249.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird increased their target price on shares of Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Barrington Research boosted their price target on shares of Grand Canyon Education from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

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.