Principal Financial Group Inc. Trims Stock Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Principal Financial Group Inc. trimmed its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 30.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,541 shares of the company's stock after selling 30,202 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Grand Canyon Education worth $9,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Reston Wealth Management LLC purchased a new position in Grand Canyon Education during the 3rd quarter worth $28,000. Versant Capital Management Inc increased its holdings in Grand Canyon Education by 14,150.0% during the 2nd quarter. Versant Capital Management Inc now owns 285 shares of the company's stock worth $40,000 after purchasing an additional 283 shares during the period. Blue Trust Inc. increased its holdings in Grand Canyon Education by 710.7% during the 2nd quarter. Blue Trust Inc. now owns 608 shares of the company's stock worth $83,000 after purchasing an additional 533 shares during the period. GAMMA Investing LLC increased its holdings in Grand Canyon Education by 46.1% during the 2nd quarter. GAMMA Investing LLC now owns 640 shares of the company's stock worth $90,000 after purchasing an additional 202 shares during the period. Finally, Quarry LP purchased a new position in Grand Canyon Education during the 2nd quarter worth $109,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Grand Canyon Education

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

Grand Canyon Education Price Performance

NASDAQ LOPE traded down $0.67 during midday trading on Tuesday, hitting $161.14. 167,968 shares of the company traded hands, compared to its average volume of 183,308. The company has a market cap of $4.70 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.70. The company's 50-day simple moving average is $142.90 and its 200-day simple moving average is $143.30. Grand Canyon Education, Inc. has a 52 week low of $118.48 and a 52 week high of $173.37.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.01. The firm 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. On average, research analysts predict that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current year.

Analysts Set New Price Targets

LOPE has been the topic of several research reports. BMO Capital Markets raised their price objective on 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 increased their target price on Grand Canyon Education from $170.00 to $186.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Barrington Research increased their target price on Grand Canyon Education from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, StockNews.com cut Grand Canyon Education from a "buy" rating to a "hold" rating in a research report on Friday.

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.