Resona Asset Management Co. Ltd. Invests $883,000 in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Resona Asset Management Co. Ltd. bought a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,392 shares of the company's stock, valued at approximately $883,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in Grand Canyon Education by 0.9% in the third quarter. State Street Corp now owns 883,971 shares of the company's stock worth $125,391,000 after buying an additional 8,159 shares during the last quarter. Boston Partners lifted its holdings in shares of Grand Canyon Education by 68.6% in the 4th quarter. Boston Partners now owns 392,954 shares of the company's stock worth $64,786,000 after acquiring an additional 159,827 shares during the last quarter. Norges Bank purchased a new position in shares of Grand Canyon Education during the 4th quarter worth about $57,838,000. Reinhart Partners LLC. grew its holdings in Grand Canyon Education by 1.6% during the 4th quarter. Reinhart Partners LLC. now owns 330,946 shares of the company's stock valued at $54,209,000 after purchasing an additional 5,339 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Grand Canyon Education by 5.7% during the 4th quarter. JPMorgan Chase & Co. now owns 167,206 shares of the company's stock valued at $27,388,000 after purchasing an additional 9,083 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Grand Canyon Education Stock Performance

LOPE traded up $0.41 during trading on Wednesday, hitting $178.15. 70,926 shares of the stock were exchanged, compared to its average volume of 178,288. Grand Canyon Education, Inc. has a 1 year low of $126.17 and a 1 year high of $192.18. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 1.42 and a beta of 0.82. The firm has a 50 day simple moving average of $175.13 and a 200 day simple moving average of $163.95.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.02. The firm had revenue of $292.57 million during the quarter, compared to the consensus estimate of $289.62 million. Grand Canyon Education had a return on equity of 30.67% and a net margin of 21.90%. As a group, equities analysts anticipate that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barrington Research reissued an "outperform" rating and set a $205.00 price target on shares of Grand Canyon Education in a research note on Tuesday. BMO Capital Markets raised their price target on shares of Grand Canyon Education from $181.00 to $202.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Finally, StockNews.com upgraded shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

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.