Redwood Investment Management LLC Reduces Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Redwood Investment Management LLC lessened its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 21.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,227 shares of the company’s stock after selling 3,023 shares during the period. Redwood Investment Management LLC’s holdings in Grand Canyon Education were worth $1,529,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LOPE. Norges Bank purchased a new stake in Grand Canyon Education during the 4th quarter worth approximately $44,529,000. Los Angeles Capital Management LLC grew its position in Grand Canyon Education by 75.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 410,815 shares of the company’s stock worth $54,244,000 after purchasing an additional 176,797 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Grand Canyon Education by 105.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 333,028 shares of the company’s stock worth $43,973,000 after purchasing an additional 170,956 shares during the last quarter. Acadian Asset Management LLC grew its position in Grand Canyon Education by 78.5% during the 1st quarter. Acadian Asset Management LLC now owns 308,357 shares of the company’s stock worth $41,977,000 after purchasing an additional 135,626 shares during the last quarter. Finally, Wasatch Advisors LP grew its position in Grand Canyon Education by 9.4% during the 1st quarter. Wasatch Advisors LP now owns 463,083 shares of the company’s stock worth $63,077,000 after purchasing an additional 39,743 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity at Grand Canyon Education

In related news, insider Kathy J. Claypatch sold 1,500 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $149.20, for a total value of $223,800.00. Following the completion of the sale, the insider now owns 8,320 shares of the company’s stock, valued at approximately $1,241,344. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Lisa Graham Keegan sold 270 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $147.96, for a total transaction of $39,949.20. Following the completion of the sale, the director now owns 2,635 shares of the company’s stock, valued at $389,874.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathy J. Claypatch sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $149.20, for a total transaction of $223,800.00. Following the sale, the insider now directly owns 8,320 shares of the company’s stock, valued at approximately $1,241,344. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LOPE shares. Barrington Research lifted their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. BMO Capital Markets lifted their price objective on shares of Grand Canyon Education from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Finally, Robert W. Baird lifted their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th.

Grand Canyon Education Stock Performance

Shares of LOPE traded up $0.65 during trading hours on Wednesday, hitting $155.95. The stock had a trading volume of 171,345 shares, compared to its average volume of 191,927. The firm has a 50-day moving average price of $143.43 and a 200 day moving average price of $136.89. Grand Canyon Education, Inc. has a fifty-two week low of $106.75 and a fifty-two week high of $157.41. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 1.31 and a beta of 0.66.

Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.13. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. The firm had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. During the same period in the previous year, the business posted $2.00 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Grand Canyon Education, Inc. will post 7.8 EPS for the current fiscal year.

Grand Canyon Education Company Profile

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.