Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lowered its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 68.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,163 shares of the company's stock after selling 4,744 shares during the period. Point72 Hong Kong Ltd's holdings in Grand Canyon Education were worth $307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC boosted its position in Grand Canyon Education by 47.7% in the second quarter. AQR Capital Management LLC now owns 538,532 shares of the company's stock valued at $74,452,000 after buying an additional 173,800 shares during the last quarter. FMR LLC raised its holdings in shares of Grand Canyon Education by 12.0% during the third quarter. FMR LLC now owns 1,323,406 shares of the company's stock worth $187,725,000 after purchasing an additional 141,648 shares during the last quarter. Renaissance Technologies LLC lifted its position in Grand Canyon Education by 41.0% during the second quarter. Renaissance Technologies LLC now owns 285,057 shares of the company's stock valued at $39,882,000 after purchasing an additional 82,855 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Grand Canyon Education by 89.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company's stock valued at $24,215,000 after purchasing an additional 81,853 shares during the last quarter. Finally, Wasatch Advisors LP grew its position in Grand Canyon Education by 15.4% during the 3rd quarter. Wasatch Advisors LP now owns 513,767 shares of the company's stock worth $72,878,000 after purchasing an additional 68,579 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Price Performance

NASDAQ LOPE traded down $0.72 during trading hours on Tuesday, reaching $166.37. The company's stock had a trading volume of 166,286 shares, compared to its average volume of 183,685. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.39 and a beta of 0.76. The company's 50-day moving average is $147.94 and its two-hundred day moving average is $144.90. Grand Canyon Education, Inc. has a 1-year low of $118.48 and a 1-year high of $173.37.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LOPE. StockNews.com cut Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Barrington Research boosted their price target on Grand Canyon Education from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. BMO Capital Markets upped their price objective on Grand Canyon Education from $152.00 to $173.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their target price 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.

Insider Buying and Selling at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total value of $211,845.00. Following the sale, the chief technology officer now directly owns 22,674 shares of the company's stock, valued at $3,202,249.02. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company's stock.

Grand Canyon Education Company 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.