Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPEGet Rating) by 250.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 63,652 shares of the company’s stock after purchasing an additional 45,514 shares during the period. State of Alaska Department of Revenue’s holdings in Grand Canyon Education were worth $5,995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LOPE. Private Capital Group LLC raised its position in Grand Canyon Education by 52.7% during the first quarter. Private Capital Group LLC now owns 287 shares of the company’s stock worth $28,000 after acquiring an additional 99 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Grand Canyon Education in the first quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Grand Canyon Education in the first quarter valued at approximately $43,000. Signaturefd LLC raised its position in shares of Grand Canyon Education by 56.7% in the first quarter. Signaturefd LLC now owns 481 shares of the company’s stock valued at $47,000 after buying an additional 174 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Grand Canyon Education by 57.9% in the first quarter. Parallel Advisors LLC now owns 1,023 shares of the company’s stock valued at $100,000 after buying an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TheStreet lowered shares of Grand Canyon Education from a “b-” rating to a “c+” rating in a research report on Tuesday, August 23rd.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $82.63 on Wednesday. Grand Canyon Education, Inc. has a 1 year low of $70.00 and a 1 year high of $102.04. The firm has a 50 day moving average price of $86.85 and a 200 day moving average price of $91.14. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.99 and a beta of 0.49.

Grand Canyon Education (NASDAQ:LOPEGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. Grand Canyon Education had a net margin of 23.99% and a return on equity of 23.44%. The firm had revenue of $199.80 million during the quarter, compared to the consensus estimate of $201.07 million. During the same period in the previous year, the firm earned $1.12 earnings per share. Grand Canyon Education’s revenue was down .8% compared to the same quarter last year. Sell-side analysts predict that Grand Canyon Education, Inc. will post 5.63 EPS for the current year.

About Grand Canyon Education

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Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company's technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.

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Institutional Ownership by Quarter for Grand Canyon Education (NASDAQ:LOPE)

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