372,308 Shares in Grand Canyon Education, Inc. $LOPE Purchased by Norges Bank

Norges Bank acquired a new position in Grand Canyon Education, Inc. (NASDAQ:LOPE) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 372,308 shares of the company’s stock, valued at approximately $61,919,000.

A number of other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of Grand Canyon Education during the fourth quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in shares of Grand Canyon Education by 70.7% in the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company’s stock valued at $26,000 after buying an additional 65 shares during the period. Hantz Financial Services Inc. grew its position in Grand Canyon Education by 98.2% during the fourth quarter. Hantz Financial Services Inc. now owns 218 shares of the company’s stock worth $36,000 after buying an additional 108 shares in the last quarter. Employees Retirement System of Texas acquired a new position in Grand Canyon Education in the 3rd quarter valued at $48,000. Finally, Financial Life Planners acquired a new position in Grand Canyon Education in the 3rd quarter valued at $49,000. Institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LOPE has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Grand Canyon Education in a research note on Thursday. Barrington Research restated an “outperform” rating and issued a $230.00 target price on shares of Grand Canyon Education in a research report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Grand Canyon Education in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Grand Canyon Education Price Performance

LOPE stock opened at $152.57 on Friday. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.00 and a beta of 0.56. The company has a 50 day simple moving average of $163.81 and a 200 day simple moving average of $164.77. Grand Canyon Education, Inc. has a 1 year low of $145.00 and a 1 year high of $223.04.

Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Thursday, April 30th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.08. The firm had revenue of $308.76 million for the quarter, compared to analyst estimates of $307.75 million. Grand Canyon Education had a net margin of 19.54% and a return on equity of 34.72%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. On average, equities research analysts anticipate that Grand Canyon Education, Inc. will post 10.22 EPS for the current fiscal year.

Grand Canyon Education Profile

Grand Canyon Education, Inc provides a suite of higher‐education services through a long-term agreement with Grand Canyon University (GCU), one of the nation’s largest private Christian universities. The company’s offerings encompass a full range of academic and operational support functions, including enrollment management, student recruitment, curriculum development, instructional delivery, and technology infrastructure. Through its online program management capabilities, Grand Canyon Education helps design, market and deliver undergraduate, graduate and certificate programs to meet the needs of both traditional and non‐traditional learners.

Core services include digital marketing, admissions support, student success coaching, learning management systems and faculty recruitment.