Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Purchased by Raymond James & Associates

Raymond James & Associates lifted its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 53,551 shares of the company’s stock after purchasing an additional 1,259 shares during the quarter. Raymond James & Associates’ holdings in Grand Canyon Education were worth $5,658,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. HighTower Advisors LLC increased its position in shares of Grand Canyon Education by 38.2% in the first quarter. HighTower Advisors LLC now owns 13,507 shares of the company’s stock valued at $1,307,000 after buying an additional 3,737 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Grand Canyon Education by 16.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,384 shares of the company’s stock worth $813,000 after acquiring an additional 1,184 shares in the last quarter. Bank of Montreal Can lifted its holdings in Grand Canyon Education by 57.8% during the first quarter. Bank of Montreal Can now owns 9,697 shares of the company’s stock valued at $948,000 after purchasing an additional 3,553 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Grand Canyon Education in the first quarter valued at about $686,000. Finally, MetLife Investment Management LLC grew its position in shares of Grand Canyon Education by 32.0% in the first quarter. MetLife Investment Management LLC now owns 25,625 shares of the company’s stock valued at $2,488,000 after purchasing an additional 6,205 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

Insider Activity at Grand Canyon Education

In other news, insider Kathy J. Claypatch sold 1,500 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $112.59, for a total value of $168,885.00. Following the transaction, the insider now owns 8,550 shares of the company’s stock, valued at approximately $962,644.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Grand Canyon Education Price Performance

LOPE opened at $110.99 on Monday. The company’s 50 day simple moving average is $113.15 and its two-hundred day simple moving average is $111.52. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 1.15 and a beta of 0.62. Grand Canyon Education, Inc. has a 1-year low of $78.37 and a 1-year high of $124.53.

Grand Canyon Education (NASDAQ:LOPE – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. Grand Canyon Education had a net margin of 20.29% and a return on equity of 30.99%. The firm had revenue of $250.13 million for the quarter, compared to analysts’ expectations of $249.74 million. During the same quarter in the previous year, the company posted $1.72 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Grand Canyon Education, Inc. will post 6.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Grand Canyon Education in a research note on Thursday. They issued a “hold” rating on the stock. BMO Capital Markets lifted their price target on Grand Canyon Education from $125.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Finally, Barrington Research increased their price objective on Grand Canyon Education from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 3rd.

Grand Canyon Education Company Profile

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Grand Canyon Education, Inc engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.