BTC Capital Management Inc. Trims Stock Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

BTC Capital Management Inc. lowered its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,660 shares of the company’s stock after selling 62 shares during the period. BTC Capital Management Inc.’s holdings in Grand Canyon Education were worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Grand Canyon Education by 12.0% during the 3rd quarter. FMR LLC now owns 1,323,406 shares of the company’s stock valued at $187,725,000 after acquiring an additional 141,648 shares in the last quarter. Wasatch Advisors LP increased its position in Grand Canyon Education by 15.4% during the 3rd quarter. Wasatch Advisors LP now owns 513,767 shares of the company’s stock valued at $72,878,000 after buying an additional 68,579 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Grand Canyon Education by 19.5% in the third quarter. Assenagon Asset Management S.A. now owns 263,381 shares of the company’s stock worth $37,361,000 after acquiring an additional 43,005 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Grand Canyon Education during the third quarter worth about $4,942,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Grand Canyon Education during the third quarter valued at about $4,833,000. 94.17% of the stock is currently owned by institutional investors.

Grand Canyon Education Stock Performance

Shares of LOPE opened at $175.64 on Friday. The business’s 50-day moving average is $166.38 and its two-hundred day moving average is $152.27. The company has a market capitalization of $5.12 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.31 and a beta of 0.75. Grand Canyon Education, Inc. has a fifty-two week low of $118.48 and a fifty-two week high of $180.98.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.47 by $0.01. Grand Canyon Education had a return on equity of 31.01% and a net margin of 22.09%. The business had revenue of $238.30 million for the quarter, compared to analyst estimates of $239.69 million. During the same quarter in the prior year, the firm posted $1.26 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts forecast that Grand Canyon Education, Inc. will post 8.03 EPS for the current year.

Wall Street Analysts Forecast Growth

LOPE has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their target price on shares of Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird lifted their price target on Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Barrington Research reiterated an “outperform” rating and set a $180.00 price target on shares of Grand Canyon Education in a research note on Monday, January 27th.

Insiders Place Their Bets

In related news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total value of $249,105.00. Following the completion of the sale, the chief technology officer now owns 21,174 shares of the company’s stock, valued at approximately $3,516,366.18. This trade represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

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.