Erste Asset Management GmbH Invests $4.83 Million in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Erste Asset Management GmbH purchased a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 34,036 shares of the company’s stock, valued at approximately $4,833,000.

A number of other large investors also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in Grand Canyon Education in the third quarter worth $28,000. True Wealth Design LLC bought a new stake in shares of Grand Canyon Education during the 3rd quarter worth $31,000. Versant Capital Management Inc boosted its holdings in shares of Grand Canyon Education by 14,150.0% in the 2nd quarter. Versant Capital Management Inc now owns 285 shares of the company’s stock worth $40,000 after buying an additional 283 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Grand Canyon Education in the 3rd quarter worth about $60,000. Finally, Blue Trust Inc. grew its position in Grand Canyon Education by 710.7% during the second quarter. Blue Trust Inc. now owns 608 shares of the company’s stock valued at $83,000 after buying an additional 533 shares during the period. 94.17% of the stock is owned by institutional investors.

Grand Canyon Education Stock Up 1.5 %

LOPE opened at $167.09 on Tuesday. The firm has a 50-day moving average price of $147.50 and a 200-day moving average price of $144.75. Grand Canyon Education, Inc. has a twelve month low of $118.48 and a twelve month high of $173.37. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.37 and a beta of 0.70.

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

Insider Activity at Grand Canyon Education

In related news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total transaction of $211,845.00. Following the sale, the chief technology officer now owns 22,674 shares of the company’s stock, valued at approximately $3,202,249.02. This represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LOPE shares. BMO Capital Markets boosted their target price on shares of Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird increased their price objective on Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barrington Research boosted their target price on Grand Canyon Education from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

About Grand Canyon Education

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.