Envestnet Asset Management Inc. Sells 8,117 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Envestnet Asset Management Inc. lessened its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,031 shares of the company’s stock after selling 8,117 shares during the period. Envestnet Asset Management Inc. owned about 0.71% of Grand Canyon Education worth $29,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its position in Grand Canyon Education by 5.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 75,722 shares of the company’s stock valued at $10,594,000 after purchasing an additional 3,982 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Grand Canyon Education by 35.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 90,408 shares of the company’s stock valued at $12,015,000 after purchasing an additional 23,689 shares during the last quarter. Headlands Technologies LLC raised its position in Grand Canyon Education by 474.6% during the 2nd quarter. Headlands Technologies LLC now owns 3,637 shares of the company’s stock valued at $509,000 after purchasing an additional 3,004 shares during the last quarter. Texas Permanent School Fund Corp raised its position in Grand Canyon Education by 19.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 30,831 shares of the company’s stock valued at $4,314,000 after purchasing an additional 4,963 shares during the last quarter. Finally, Van Berkom & Associates Inc. raised its position in Grand Canyon Education by 1.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 756,971 shares of the company’s stock valued at $105,908,000 after purchasing an additional 11,540 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Stock Performance

Shares of NASDAQ:LOPE opened at $142.78 on Friday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.16 and a beta of 0.69. The stock has a 50 day moving average price of $145.02 and a 200-day moving average price of $140.12. Grand Canyon Education, Inc. has a 52-week low of $112.38 and a 52-week high of $157.53.

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

Insider Buying and Selling

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total transaction of $211,845.00. Following the sale, the chief technology officer now directly owns 22,674 shares in the company, valued at approximately $3,202,249.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LOPE. BMO Capital Markets upped their price target on Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barrington Research reissued an “outperform” rating and issued a $165.00 target price on shares of Grand Canyon Education in a research report on Friday. Finally, StockNews.com raised Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th.

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.