Westpac Banking Corp Trims Position in Grand Canyon Education Inc (NASDAQ:LOPE)

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Westpac Banking Corp lessened its stake in shares of Grand Canyon Education Inc (NASDAQ:LOPE) by 4.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,392 shares of the company’s stock after selling 2,200 shares during the quarter. Westpac Banking Corp owned about 0.10% of Grand Canyon Education worth $5,780,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. NEXT Financial Group Inc grew its holdings in Grand Canyon Education by 9.1% during the 2nd quarter. NEXT Financial Group Inc now owns 1,193 shares of the company’s stock valued at $139,000 after buying an additional 100 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Grand Canyon Education by 0.9% during the 1st quarter. SG Americas Securities LLC now owns 11,418 shares of the company’s stock valued at $1,307,000 after acquiring an additional 102 shares during the last quarter. First Hawaiian Bank boosted its position in shares of Grand Canyon Education by 1.6% during the 2nd quarter. First Hawaiian Bank now owns 6,803 shares of the company’s stock valued at $796,000 after acquiring an additional 108 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Grand Canyon Education by 0.4% during the 1st quarter. Nordea Investment Management AB now owns 41,663 shares of the company’s stock valued at $4,771,000 after acquiring an additional 178 shares during the last quarter. Finally, Pendal Group Ltd boosted its position in shares of Grand Canyon Education by 3.7% during the 1st quarter. Pendal Group Ltd now owns 5,004 shares of the company’s stock valued at $573,000 after acquiring an additional 179 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

NASDAQ:LOPE traded up $0.29 during mid-day trading on Friday, reaching $127.74. The stock had a trading volume of 2,687 shares, compared to its average volume of 413,479. The firm has a 50 day moving average price of $121.45 and a two-hundred day moving average price of $116.37. The stock has a market capitalization of $6.09 billion, a P/E ratio of 25.12, a P/E/G ratio of 1.56 and a beta of 0.79. Grand Canyon Education Inc has a one year low of $90.67 and a one year high of $130.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.96.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Tuesday, August 6th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.15. The company had revenue of $174.82 million during the quarter, compared to the consensus estimate of $173.40 million. Grand Canyon Education had a return on equity of 21.06% and a net margin of 33.14%. Grand Canyon Education’s quarterly revenue was down 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. Research analysts forecast that Grand Canyon Education Inc will post 5.39 earnings per share for the current year.

In related news, insider Joseph N. Mildenhall sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $126.20, for a total value of $252,400.00. Following the completion of the sale, the insider now owns 58,809 shares in the company, valued at approximately $7,421,695.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph N. Mildenhall sold 19,900 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $113.95, for a total value of $2,267,605.00. Following the completion of the sale, the insider now owns 84,709 shares of the company’s stock, valued at approximately $9,652,590.55. The disclosure for this sale can be found here. Insiders sold a total of 85,900 shares of company stock valued at $10,567,785 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on the company. BidaskClub upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. ValuEngine downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Grand Canyon Education from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a research report on Friday, August 9th. Robert W. Baird set a $145.00 price target on Grand Canyon Education and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Barrington Research lifted their price target on Grand Canyon Education from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $139.25.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services in the United States. It offers technology and academic, counseling and support, and marketing and communication services, as well as back office services, such as financial aid processing, accounting, reporting, tax, human resources, and procurement services to the Grand Canyon University.

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

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