Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 5.2% in the 4th quarter, HoldingsChannel reports. The firm owned 178,888 shares of the company’s stock after selling 9,881 shares during the quarter. Bank of America Corp DE’s holdings in Grand Canyon Education were worth $29,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC purchased a new position in shares of Grand Canyon Education during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Grand Canyon Education during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Grand Canyon Education during the fourth quarter worth $32,000. Financial Life Planners purchased a new position in shares of Grand Canyon Education during the fourth quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Grand Canyon Education during the fourth quarter worth $59,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LOPE. StockNews.com cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Barrington Research raised their target price on shares of Grand Canyon Education from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets lifted their price objective on shares of Grand Canyon Education from $181.00 to $202.00 and gave the company an “outperform” rating in a report on Friday, February 21st.

Grand Canyon Education Stock Performance

LOPE opened at $197.44 on Friday. Grand Canyon Education, Inc. has a fifty-two week low of $130.69 and a fifty-two week high of $202.28. The company has a fifty day moving average of $177.07 and a two-hundred day moving average of $171.68. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.42 and a beta of 0.80.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.06. Grand Canyon Education had a net margin of 21.90% and a return on equity of 30.67%. The company had revenue of $289.31 million during the quarter, compared to analysts’ expectations of $287.18 million. During the same quarter in the previous year, the company earned $2.35 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current year.

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.