Principal Financial Group Inc. decreased its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 30.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,541 shares of the company's stock after selling 30,202 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Grand Canyon Education worth $9,581,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of LOPE. Bank of New York Mellon Corp increased its stake in Grand Canyon Education by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 285,223 shares of the company's stock worth $39,906,000 after buying an additional 6,783 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Grand Canyon Education by 17.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,065 shares of the company's stock valued at $1,128,000 after acquiring an additional 1,210 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Grand Canyon Education by 18.0% during the second quarter. Van ECK Associates Corp now owns 16,080 shares of the company's stock valued at $2,250,000 after acquiring an additional 2,453 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Grand Canyon Education in the second quarter valued at approximately $210,000. Finally, Convergence Investment Partners LLC grew its stake in Grand Canyon Education by 15.3% in the second quarter. Convergence Investment Partners LLC now owns 2,416 shares of the company's stock worth $338,000 after purchasing an additional 320 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.
Grand Canyon Education Trading Up 0.2 %
Shares of NASDAQ:LOPE traded up $0.30 on Tuesday, reaching $163.80. The company had a trading volume of 113,336 shares, compared to its average volume of 180,274. The firm has a market capitalization of $4.77 billion, a PE ratio of 21.52, a PEG ratio of 1.38 and a beta of 0.76. Grand Canyon Education, Inc. has a 52-week low of $118.48 and a 52-week high of $173.37. The firm's 50 day simple moving average is $159.45 and its 200-day simple moving average is $148.06.
Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.01. The company had revenue of $238.30 million for the quarter, compared to analyst estimates of $239.69 million. Grand Canyon Education had a return on equity of 31.01% and a net margin of 22.09%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. As a group, equities research analysts predict that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current year.
Insider Buying and Selling
In other news, CTO Dilek Marsh sold 1,500 shares of the firm's stock in a transaction on 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 owns 21,174 shares of the company's stock, valued at $3,516,366.18. This trade represents a 6.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on LOPE. Barrington Research lifted 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. StockNews.com downgraded Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Robert W. Baird upped their price objective 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. Finally, BMO Capital Markets raised their target price on shares of Grand Canyon Education from $152.00 to $173.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th.
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About Grand Canyon Education
(
Free Report)
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.
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