Geode Capital Management LLC Has $73.54 Million Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Geode Capital Management LLC lessened its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 518,323 shares of the company's stock after selling 41,535 shares during the period. Geode Capital Management LLC owned about 1.78% of Grand Canyon Education worth $73,542,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in Grand Canyon Education by 0.4% in the third quarter. Barclays PLC now owns 18,977 shares of the company's stock valued at $2,692,000 after acquiring an additional 84 shares during the period. Wealth Alliance boosted its position in Grand Canyon Education by 3.8% during the 2nd quarter. Wealth Alliance now owns 2,428 shares of the company's stock valued at $340,000 after purchasing an additional 89 shares during the period. MML Investors Services LLC grew its stake in Grand Canyon Education by 1.6% during the 3rd quarter. MML Investors Services LLC now owns 5,740 shares of the company's stock worth $814,000 after buying an additional 91 shares during the last quarter. NBC Securities Inc. grew its stake in Grand Canyon Education by 12.6% during the 3rd quarter. NBC Securities Inc. now owns 856 shares of the company's stock worth $121,000 after buying an additional 96 shares during the last quarter. Finally, Allegheny Financial Group LTD increased its position in Grand Canyon Education by 4.3% in the second quarter. Allegheny Financial Group LTD now owns 2,656 shares of the company's stock worth $372,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Grand Canyon Education Price Performance

Shares of NASDAQ LOPE traded down $2.91 during trading hours on Friday, hitting $160.31. 464,204 shares of the stock were exchanged, compared to its average volume of 182,611. The firm has a market capitalization of $4.67 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.41 and a beta of 0.76. The company's 50 day moving average is $155.22 and its 200 day moving average is $146.89. Grand Canyon Education, Inc. has a one year low of $118.48 and a one year high of $173.37.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share (EPS) 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 analysts' expectations of $239.69 million. Grand Canyon Education had a return on equity of 31.01% and a net margin of 22.09%. The business's revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $1.26 earnings per share. Research analysts anticipate that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current fiscal year.

Insider Activity

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the business's 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 transaction, the chief technology officer now directly owns 21,174 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LOPE. BMO Capital Markets increased their price objective on shares of Grand Canyon Education from $152.00 to $173.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Robert W. Baird raised their price target on shares of Grand Canyon Education from $170.00 to $186.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. StockNews.com downgraded Grand Canyon Education from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Barrington Research increased their price objective on Grand Canyon Education from $165.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th.

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.