Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by BB&T Corp

BB&T Corp decreased its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,943 shares of the company’s stock after selling 115 shares during the period. BB&T Corp’s holdings in Grand Canyon Education were worth $388,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Aperio Group LLC raised its position in Grand Canyon Education by 4.9% in the second quarter. Aperio Group LLC now owns 9,662 shares of the company’s stock worth $758,000 after buying an additional 454 shares during the last quarter. Summit Creek Advisors LLC raised its position in Grand Canyon Education by 53.9% in the second quarter. Summit Creek Advisors LLC now owns 110,350 shares of the company’s stock worth $8,653,000 after buying an additional 38,660 shares during the last quarter. Meeder Asset Management Inc. raised its position in Grand Canyon Education by 586.1% in the second quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock worth $112,000 after buying an additional 1,225 shares during the last quarter. Handelsinvest Investeringsforvaltning raised its position in Grand Canyon Education by 30.9% in the second quarter. Handelsinvest Investeringsforvaltning now owns 226,647 shares of the company’s stock worth $17,772,000 after buying an additional 53,447 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Grand Canyon Education during the second quarter worth $285,000. 96.15% of the stock is owned by institutional investors.

Grand Canyon Education, Inc. (LOPE) traded up 0.82% during midday trading on Friday, reaching $80.01. The company had a trading volume of 410,061 shares. The stock has a market capitalization of $3.78 billion, a PE ratio of 22.08 and a beta of 1.48. Grand Canyon Education, Inc. has a 1-year low of $39.07 and a 1-year high of $85.94. The firm’s 50 day moving average is $77.90 and its 200 day moving average is $72.93.

Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The company had revenue of $218.30 million during the quarter, compared to analysts’ expectations of $213.08 million. During the same period last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that Grand Canyon Education, Inc. will post $3.83 EPS for the current fiscal year.

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Several equities analysts recently weighed in on LOPE shares. Barrington Research restated an “outperform” rating and issued a $89.00 price target (up previously from $85.00) on shares of Grand Canyon Education in a research note on Tuesday, August 8th. BidaskClub upgraded Grand Canyon Education from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded Grand Canyon Education from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Thursday, August 3rd. Finally, ValuEngine upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.50.

In related news, CEO Brian E. Mueller sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $79.34, for a total transaction of $2,380,200.00. Following the sale, the chief executive officer now owns 311,524 shares in the company, valued at $24,716,314.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian E. Mueller sold 29,788 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $77.12, for a total transaction of $2,297,250.56. Following the sale, the chief executive officer now owns 311,312 shares in the company, valued at approximately $24,008,381.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,231 shares of company stock valued at $10,207,539. Corporate insiders own 3.00% of the company’s stock.

About Grand Canyon Education

Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.

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

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