Wells Fargo & Company MN lowered its stake in Grand Canyon Education Inc (NASDAQ:LOPE) by 16.3% in the 1st quarter, HoldingsChannel reports. The fund owned 372,674 shares of the company’s stock after selling 72,452 shares during the quarter. Wells Fargo & Company MN’s holdings in Grand Canyon Education were worth $42,675,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LOPE. Executive Wealth Management LLC bought a new stake in shares of Grand Canyon Education in the 4th quarter valued at $26,000. Icon Wealth Partners LLC bought a new stake in shares of Grand Canyon Education in the 1st quarter valued at $63,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Grand Canyon Education by 29.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 668 shares of the company’s stock valued at $64,000 after acquiring an additional 150 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Grand Canyon Education by 48.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 610 shares of the company’s stock valued at $70,000 after acquiring an additional 200 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Grand Canyon Education by 350.3% in the 1st quarter. Quadrant Capital Group LLC now owns 680 shares of the company’s stock valued at $76,000 after acquiring an additional 529 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

In other Grand Canyon Education news, CEO Brian E. Mueller sold 40,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $126.10, for a total transaction of $5,044,000.00. Following the completion of the sale, the chief executive officer now owns 320,124 shares in the company, valued at approximately $40,367,636.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel E. Bachus sold 20,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $126.09, for a total transaction of $2,521,800.00. Following the sale, the chief financial officer now owns 117,757 shares of the company’s stock, valued at approximately $14,847,980.13. The disclosure for this sale can be found here. Insiders have sold a total of 85,900 shares of company stock valued at $10,548,685 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

LOPE stock traded up $0.21 during midday trading on Wednesday, reaching $124.01. 12,656 shares of the company’s stock traded hands, compared to its average volume of 349,569. The firm has a market capitalization of $6.08 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.17. Grand Canyon Education Inc has a 52 week low of $90.67 and a 52 week high of $130.10.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.13. The business had revenue of $197.29 million during the quarter, compared to analyst estimates of $195.60 million. Grand Canyon Education had a net margin of 29.80% and a return on equity of 21.50%. Grand Canyon Education’s quarterly revenue was down 28.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. On average, equities analysts predict that Grand Canyon Education Inc will post 5.24 earnings per share for the current fiscal year.

Several analysts have recently weighed in on LOPE shares. Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Saturday, February 23rd. 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 reiterated a “buy” rating and issued a $135.00 price objective on shares of Grand Canyon Education in a research note on Wednesday, May 8th. BidaskClub upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Finally, BMO Capital Markets lifted their price objective on shares of Grand Canyon Education to $130.00 and gave the company an “outperform” rating in a research note on Friday, February 22nd. Seven research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $133.20.

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Grand Canyon Education Company Profile

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.

Further Reading: Cost of Equity

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

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