Renaissance Technologies LLC boosted its position in Grand Canyon Education Inc (NASDAQ:LOPE) by 24.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,050,700 shares of the company’s stock after acquiring an additional 208,400 shares during the quarter. Renaissance Technologies LLC owned 2.18% of Grand Canyon Education worth $118,519,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. FIL Ltd boosted its position in Grand Canyon Education by 2.0% in the third quarter. FIL Ltd now owns 1,929,082 shares of the company’s stock valued at $217,600,000 after buying an additional 38,139 shares in the last quarter. William Blair Investment Management LLC boosted its position in Grand Canyon Education by 6.2% in the third quarter. William Blair Investment Management LLC now owns 1,708,980 shares of the company’s stock valued at $192,773,000 after buying an additional 99,526 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Grand Canyon Education by 2.2% in the third quarter. Handelsbanken Fonder AB now owns 1,215,290 shares of the company’s stock valued at $137,085,000 after buying an additional 26,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in Grand Canyon Education by 70.6% in the third quarter. Victory Capital Management Inc. now owns 836,261 shares of the company’s stock valued at $94,330,000 after buying an additional 346,017 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Grand Canyon Education by 66.3% in the third quarter. Wells Fargo & Company MN now owns 779,083 shares of the company’s stock valued at $87,880,000 after buying an additional 310,475 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.
LOPE has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Barrington Research restated a “buy” rating and issued a $135.00 target price on shares of Grand Canyon Education in a research report on Friday, October 5th. Finally, Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research report on Thursday, September 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Grand Canyon Education presently has a consensus rating of “Buy” and an average price target of $141.40.
Shares of Grand Canyon Education stock opened at $114.13 on Friday. Grand Canyon Education Inc has a fifty-two week low of $85.14 and a fifty-two week high of $130.10. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 1.52 and a beta of 0.81.
Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Thursday, November 8th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Grand Canyon Education had a net margin of 23.60% and a return on equity of 21.66%. The firm had revenue of $155.45 million for the quarter, compared to analyst estimates of $153.31 million. During the same quarter last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was down 34.2% on a year-over-year basis. Equities analysts anticipate that Grand Canyon Education Inc will post 4.88 EPS for the current fiscal year.
In other news, COO William Stan Meyer sold 15,000 shares of Grand Canyon Education stock in a transaction on Monday, November 12th. The shares were sold at an average price of $127.00, for a total transaction of $1,905,000.00. Following the transaction, the chief operating officer now owns 112,261 shares in the company, valued at $14,257,147. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian E. Mueller sold 30,000 shares of Grand Canyon Education stock in a transaction on Monday, November 12th. The stock was sold at an average price of $127.00, for a total transaction of $3,810,000.00. Following the transaction, the chief executive officer now owns 308,739 shares in the company, valued at approximately $39,209,853. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,000 shares of company stock worth $6,219,000. 2.40% of the stock is owned by company insiders.
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Grand Canyon Education Company Profile
Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.
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