Envestnet Asset Management Inc. Reduces Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Envestnet Asset Management Inc. reduced its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 210,031 shares of the company’s stock after selling 8,117 shares during the period. Envestnet Asset Management Inc.’s holdings in Grand Canyon Education were worth $29,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LOPE. Private Advisor Group LLC purchased a new position in shares of Grand Canyon Education in the 4th quarter worth $201,000. BNP Paribas Financial Markets boosted its stake in shares of Grand Canyon Education by 243.1% in the 4th quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $2,302,000 after buying an additional 12,353 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Grand Canyon Education by 22.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,510 shares of the company’s stock worth $2,840,000 after buying an additional 3,959 shares during the last quarter. Brown Advisory Inc. purchased a new position in shares of Grand Canyon Education in the 4th quarter worth $218,000. Finally, Norges Bank bought a new position in Grand Canyon Education in the 4th quarter worth $44,529,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Grand Canyon Education Stock Up 1.0 %

Shares of Grand Canyon Education stock opened at $142.78 on Friday. The stock’s 50-day simple moving average is $145.02 and its 200-day simple moving average is $140.12. Grand Canyon Education, Inc. has a 52 week low of $112.38 and a 52 week high of $157.53. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.16 and a beta of 0.69.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.10 by $0.17. Grand Canyon Education had a return on equity of 31.49% and a net margin of 21.88%. The business had revenue of $227.50 million for the quarter, compared to the consensus estimate of $223.56 million. During the same period in the previous year, the business earned $1.01 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that Grand Canyon Education, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $165.00 target price on shares of Grand Canyon Education in a research report on Friday. BMO Capital Markets lifted their target price on Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th.

Insider Buying and Selling

In related news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total value of $211,845.00. Following the sale, the chief technology officer now directly owns 22,674 shares in the company, valued at $3,202,249.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

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.