Victory Capital Management Inc. Sells 289 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Victory Capital Management Inc. cut its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,856 shares of the company’s stock after selling 289 shares during the period. Victory Capital Management Inc.’s holdings in Grand Canyon Education were worth $1,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOPE. Norges Bank acquired a new position in Grand Canyon Education in the fourth quarter worth $44,529,000. Goldman Sachs Group Inc. raised its holdings in shares of Grand Canyon Education by 105.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 333,028 shares of the company’s stock valued at $43,973,000 after buying an additional 170,956 shares during the last quarter. Acadian Asset Management LLC lifted 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 buying an additional 135,626 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Grand Canyon Education by 89.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company’s stock worth $24,215,000 after acquiring an additional 81,853 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Grand Canyon Education by 42.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 220,376 shares of the company’s stock valued at $30,833,000 after acquiring an additional 65,518 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Price Performance

Shares of NASDAQ:LOPE opened at $141.35 on Friday. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.16 and a beta of 0.69. The company has a 50 day moving average of $145.01 and a 200-day moving average of $140.04. Grand Canyon Education, Inc. has a one year low of $112.38 and a one year high of $157.53.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Tuesday, August 6th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The firm had revenue of $227.50 million during the quarter, compared to analyst estimates of $223.56 million. Grand Canyon Education had a net margin of 21.88% and a return on equity of 31.49%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. Equities research analysts anticipate that Grand Canyon Education, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LOPE. StockNews.com upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $165.00 price objective on shares of Grand Canyon Education in a report on Wednesday, August 7th. Finally, BMO Capital Markets lifted their target price on Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Grand Canyon Education 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.