Grand Canyon Education, Inc. (LOPE) Holdings Trimmed by BB&T Corp

BB&T Corp lessened its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,368 shares of the company’s stock after selling 575 shares during the quarter. BB&T Corp’s holdings in Grand Canyon Education were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LOPE. BlackRock Inc. grew its stake in Grand Canyon Education by 73,121.4% during the 1st quarter. BlackRock Inc. now owns 2,817,560 shares of the company’s stock valued at $201,765,000 after purchasing an additional 2,813,712 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Grand Canyon Education by 27.7% in the 2nd quarter. William Blair Investment Management LLC now owns 2,054,139 shares of the company’s stock worth $161,065,000 after acquiring an additional 445,546 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Grand Canyon Education by 15.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,808,294 shares of the company’s stock worth $141,788,000 after acquiring an additional 245,284 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Grand Canyon Education by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock worth $270,343,000 after acquiring an additional 197,721 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Grand Canyon Education by 128.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 347,481 shares of the company’s stock worth $27,244,000 after acquiring an additional 195,090 shares in the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The business had revenue of $218.30 million during the quarter, compared to analysts’ expectations of $213.08 million. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS.

In other Grand Canyon Education news, COO William Stan Meyer sold 1,315 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $80.35, for a total value of $105,660.25. Following the completion of the transaction, the chief operating officer now owns 99,774 shares of the company’s stock, valued at approximately $8,016,840.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph N. Mildenhall sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total value of $400,850.00. Following the completion of the transaction, the insider now directly owns 88,798 shares of the company’s stock, valued at approximately $7,118,935.66. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

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Several brokerages have recently commented on LOPE. ValuEngine lowered Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BMO Capital Markets reiterated a “buy” rating and issued a $97.00 target price on shares of Grand Canyon Education in a research report on Wednesday, October 25th. Piper Jaffray Companies lifted their target price on Grand Canyon Education from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Finally, BidaskClub upgraded Grand Canyon Education from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $92.00.

Grand Canyon Education Profile

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.

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

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