Intech Investment Management LLC Sells 5,074 Shares of Grand Canyon Education, Inc. $LOPE

Intech Investment Management LLC reduced its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 53.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,448 shares of the company’s stock after selling 5,074 shares during the period. Intech Investment Management LLC’s holdings in Grand Canyon Education were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LOPE. Norges Bank bought a new position in Grand Canyon Education in the 2nd quarter valued at approximately $65,736,000. Invesco Ltd. grew its stake in shares of Grand Canyon Education by 57.5% during the second quarter. Invesco Ltd. now owns 560,068 shares of the company’s stock worth $105,853,000 after buying an additional 204,582 shares during the last quarter. ABN AMRO Bank N.V. bought a new stake in shares of Grand Canyon Education during the second quarter worth $33,910,000. Pacer Advisors Inc. increased its holdings in shares of Grand Canyon Education by 2,453.7% during the third quarter. Pacer Advisors Inc. now owns 126,024 shares of the company’s stock worth $27,665,000 after buying an additional 121,089 shares in the last quarter. Finally, ABN Amro Investment Solutions bought a new position in shares of Grand Canyon Education in the 2nd quarter valued at $14,526,000. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LOPE. Barrington Research reissued an “outperform” rating and set a $230.00 price objective on shares of Grand Canyon Education in a report on Thursday, February 19th. Weiss Ratings downgraded Grand Canyon Education from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Grand Canyon Education Stock Performance

LOPE stock opened at $166.54 on Monday. The company has a market capitalization of $4.52 billion, a P/E ratio of 21.57, a PEG ratio of 1.10 and a beta of 0.72. The company has a fifty day moving average price of $168.41 and a 200-day moving average price of $181.97. Grand Canyon Education, Inc. has a 52-week low of $149.37 and a 52-week high of $223.04.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Wednesday, February 18th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.02. The business had revenue of $308.12 million during the quarter, compared to analyst estimates of $307.92 million. Grand Canyon Education had a return on equity of 33.28% and a net margin of 19.54%.Grand Canyon Education’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. As a group, sell-side analysts forecast that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

About Grand Canyon Education

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.