Grand Canyon Education Inc (LOPE) Shares Bought by Daiwa Securities Group Inc.

Grand Canyon Education Inc (LOPE) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its holdings in shares of Grand Canyon Education Inc (NASDAQ:LOPE) by 48.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610 shares of the company’s stock after purchasing an additional 200 shares during the period. Daiwa Securities Group Inc.’s holdings in Grand Canyon Education were worth $70,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Marshall Wace LLP bought a new stake in shares of Grand Canyon Education in the third quarter worth $469,000. Legal & General Group Plc increased its stake in shares of Grand Canyon Education by 1.2% in the third quarter. Legal & General Group Plc now owns 25,133 shares of the company’s stock worth $2,835,000 after buying an additional 288 shares during the last quarter. First Hawaiian Bank increased its stake in shares of Grand Canyon Education by 8.5% in the fourth quarter. First Hawaiian Bank now owns 7,060 shares of the company’s stock worth $679,000 after buying an additional 554 shares during the last quarter. Fox Run Management L.L.C. increased its stake in shares of Grand Canyon Education by 37.0% in the fourth quarter. Fox Run Management L.L.C. now owns 4,992 shares of the company’s stock worth $480,000 after buying an additional 1,349 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Grand Canyon Education by 449.5% in the fourth quarter. Bank of Montreal Can now owns 116,325 shares of the company’s stock worth $11,184,000 after buying an additional 95,154 shares during the last quarter. Institutional investors own 98.20% of the company’s stock.

LOPE stock opened at $117.00 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.84 and a quick ratio of 3.84. Grand Canyon Education Inc has a 1-year low of $90.67 and a 1-year high of $130.10. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Tuesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.13. Grand Canyon Education had a net margin of 27.09% and a return on equity of 22.16%. The firm had revenue of $197.29 million during the quarter, compared to analyst estimates of $195.60 million. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was down 28.4% compared to the same quarter last year. Equities research analysts predict that Grand Canyon Education Inc will post 5.12 earnings per share for the current fiscal year.

In other Grand Canyon Education news, insider Joseph N. Mildenhall sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $118.12, for a total transaction of $236,240.00. Following the completion of the sale, the insider now owns 66,809 shares in the company, valued at $7,891,479.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian E. Mueller sold 40,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $117.91, for a total transaction of $4,716,400.00. Following the sale, the chief executive officer now owns 280,124 shares of the company’s stock, valued at approximately $33,029,420.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,000 shares of company stock valued at $9,297,700. 2.40% of the stock is owned by insiders.

A number of analysts recently issued reports on LOPE shares. ValuEngine upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Barrington Research restated a “buy” rating and issued a $135.00 price target on shares of Grand Canyon Education in a research note on Friday, February 8th. Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Saturday, February 23rd. Finally, BidaskClub upgraded shares of Grand Canyon Education from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $133.00.

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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