Franklin Resources Inc. Acquires 3,630 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Franklin Resources Inc. raised its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,523 shares of the company's stock after purchasing an additional 3,630 shares during the quarter. Franklin Resources Inc. owned 0.13% of Grand Canyon Education worth $5,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in shares of Grand Canyon Education during the 3rd quarter valued at about $28,000. True Wealth Design LLC purchased a new stake in Grand Canyon Education during the third quarter valued at approximately $31,000. Capital Performance Advisors LLP bought a new stake in shares of Grand Canyon Education in the 3rd quarter valued at approximately $60,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Grand Canyon Education in the 3rd quarter worth approximately $86,000. Finally, Quarry LP bought a new position in shares of Grand Canyon Education during the 2nd quarter valued at approximately $109,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Grand Canyon Education

In related news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total value of $249,105.00. Following the completion of the sale, the chief technology officer now directly owns 21,174 shares in the company, valued at $3,516,366.18. The trade was a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Grand Canyon Education Price Performance

Shares of NASDAQ:LOPE traded up $1.97 on Tuesday, hitting $162.94. 49,723 shares of the company's stock were exchanged, compared to its average volume of 181,855. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.38 and a beta of 0.76. Grand Canyon Education, Inc. has a 12 month low of $118.48 and a 12 month high of $173.37. The business's 50 day simple moving average is $155.77 and its two-hundred day simple moving average is $147.05.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.01. The company had revenue of $238.30 million during the quarter, compared to analyst estimates of $239.69 million. Grand Canyon Education had a net margin of 22.09% and a return on equity of 31.01%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Equities analysts forecast that Grand Canyon Education, Inc. will post 8.03 EPS for the current fiscal year.

Analysts Set New Price Targets

LOPE has been the subject of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of Grand Canyon Education from $152.00 to $173.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Grand Canyon Education from $170.00 to $186.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Barrington Research increased their price objective on shares of Grand Canyon Education from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Friday, November 15th.

About Grand Canyon Education

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.