Royal Bank of Canada Lowers Holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Royal Bank of Canada decreased its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 10.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 198,616 shares of the company’s stock after selling 22,342 shares during the period. Royal Bank of Canada’s holdings in Grand Canyon Education were worth $21,271,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of LOPE. Wasatch Advisors Inc. purchased a new position in Grand Canyon Education in the 1st quarter worth about $107,250,000. Riverbridge Partners LLC raised its position in Grand Canyon Education by 43.2% in the 1st quarter. Riverbridge Partners LLC now owns 2,745,161 shares of the company’s stock worth $294,007,000 after buying an additional 827,514 shares during the last quarter. Norges Bank purchased a new position in Grand Canyon Education in the 4th quarter worth about $39,720,000. Massachusetts Financial Services Co. MA raised its position in Grand Canyon Education by 13.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,797,934 shares of the company’s stock worth $192,559,000 after buying an additional 207,192 shares during the last quarter. Finally, BlackRock Inc. raised its position in Grand Canyon Education by 4.8% in the 1st quarter. BlackRock Inc. now owns 4,055,390 shares of the company’s stock worth $434,332,000 after buying an additional 184,099 shares during the last quarter. 96.04% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:LOPE opened at $91.86 on Thursday. The company’s 50 day moving average is $91.00. The company has a market cap of $4.26 billion, a P/E ratio of 15.93, a PEG ratio of 0.99 and a beta of 0.57. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.04. Grand Canyon Education, Inc. has a 12-month low of $75.64 and a 12-month high of $115.96.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Wednesday, May 5th. The company reported $1.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.05. Grand Canyon Education had a return on equity of 17.53% and a net margin of 30.71%. The business had revenue of $236.93 million during the quarter, compared to the consensus estimate of $234.89 million. On average, research analysts predict that Grand Canyon Education, Inc. will post 6.19 EPS for the current year.

LOPE has been the subject of a number of recent research reports. TheStreet downgraded Grand Canyon Education from a “b-” rating to a “c+” rating in a research note on Friday, June 25th. Zacks Investment Research downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Saturday, July 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $115.50.

About Grand Canyon Education

Grand Canyon Education, Inc engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.

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

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