Summit Partners Public Asset Management LLC cut its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,000 shares of the company’s stock after selling 10,000 shares during the period. Grand Canyon Education comprises about 1.0% of Summit Partners Public Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position. Summit Partners Public Asset Management LLC owned approximately 0.19% of Grand Canyon Education worth $7,057,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOPE. Meeder Asset Management Inc. lifted its position in Grand Canyon Education by 586.1% during the second quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock valued at $112,000 after purchasing an additional 1,225 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Grand Canyon Education by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,827 shares of the company’s stock valued at $143,000 after purchasing an additional 139 shares in the last quarter. Fifth Third Bancorp lifted its position in Grand Canyon Education by 10.8% during the first quarter. Fifth Third Bancorp now owns 2,262 shares of the company’s stock valued at $162,000 after purchasing an additional 220 shares in the last quarter. Valley National Advisers Inc. lifted its position in Grand Canyon Education by 23.8% during the first quarter. Valley National Advisers Inc. now owns 2,562 shares of the company’s stock valued at $183,000 after purchasing an additional 492 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Grand Canyon Education during the first quarter valued at $207,000. Institutional investors own 96.57% of the company’s stock.

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Several equities analysts recently weighed in on the company. ValuEngine downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets reiterated a “buy” rating and set a $85.00 target price on shares of Grand Canyon Education in a research report on Monday, September 18th. BidaskClub upgraded Grand Canyon Education from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Barrington Research restated an “outperform” rating and issued a $89.00 price objective (up from $85.00) on shares of Grand Canyon Education in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $84.25.

Shares of Grand Canyon Education, Inc. (NASDAQ LOPE) traded down 0.03% during trading on Friday, hitting $89.19. The stock had a trading volume of 44,168 shares. Grand Canyon Education, Inc. has a 12-month low of $40.02 and a 12-month high of $93.08. The firm has a market cap of $4.21 billion, a P/E ratio of 24.62 and a beta of 1.39. The firm has a 50 day moving average price of $83.49 and a 200 day moving average price of $78.08.

Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Tuesday, August 1st. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The firm had revenue of $218.30 million for the quarter, compared to analysts’ expectations of $213.08 million. During the same period last year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Grand Canyon Education, Inc. will post $3.83 earnings per share for the current fiscal year.

In related news, insider Joseph N. Mildenhall sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total value of $400,850.00. Following the transaction, the insider now directly owns 88,798 shares of the company’s stock, valued at approximately $7,118,935.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO William Stan Meyer sold 1,315 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $80.35, for a total transaction of $105,660.25. Following the completion of the transaction, the chief operating officer now directly owns 99,774 shares in the company, valued at $8,016,840.90. The disclosure for this sale can be found here. Insiders have sold a total of 66,231 shares of company stock worth $5,128,139 over the last 90 days. Insiders own 3.00% of the company’s stock.

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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