Bank of New York Mellon Corp Sells 23,355 Shares of Grand Canyon Education, Inc. $LOPE

Bank of New York Mellon Corp lessened its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,539 shares of the company’s stock after selling 23,355 shares during the period. Bank of New York Mellon Corp’s holdings in Grand Canyon Education were worth $31,207,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Grand Canyon Education during the fourth quarter worth $25,000. Larson Financial Group LLC raised its holdings in Grand Canyon Education by 70.7% during the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company’s stock valued at $26,000 after buying an additional 65 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Grand Canyon Education in the fourth quarter worth about $26,000. Financial Life Planners acquired a new stake in shares of Grand Canyon Education in the first quarter worth about $33,000. Finally, Leonteq Securities AG lifted its position in shares of Grand Canyon Education by 48.9% in the first quarter. Leonteq Securities AG now owns 195 shares of the company’s stock worth $33,000 after buying an additional 64 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial set a $100.00 price objective on Grand Canyon Education in a report on Tuesday, June 9th. Weiss Ratings lowered Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. BMO Capital Markets decreased their target price on Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $230.00 target price on shares of Grand Canyon Education in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Grand Canyon Education has a consensus rating of “Moderate Buy” and an average target price of $171.67.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $139.94 on Monday. The business’s 50-day simple moving average is $148.23 and its 200-day simple moving average is $160.92. The firm has a market capitalization of $3.71 billion, a PE ratio of 17.49, a PEG ratio of 0.93 and a beta of 0.57. Grand Canyon Education, Inc. has a 52 week low of $134.27 and a 52 week high of $223.04.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.08. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.The business had revenue of $308.76 million during the quarter, compared to analysts’ expectations of $307.75 million. During the same quarter in the previous year, the firm earned $2.57 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Research analysts forecast that Grand Canyon Education, Inc. will post 10.04 earnings per share for the current year.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc provides a suite of higher‐education services through a long-term agreement with Grand Canyon University (GCU), one of the nation’s largest private Christian universities. The company’s offerings encompass a full range of academic and operational support functions, including enrollment management, student recruitment, curriculum development, instructional delivery, and technology infrastructure. Through its online program management capabilities, Grand Canyon Education helps design, market and deliver undergraduate, graduate and certificate programs to meet the needs of both traditional and non‐traditional learners.

Core services include digital marketing, admissions support, student success coaching, learning management systems and faculty recruitment.