Quarry LP Takes Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Quarry LP bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 781 shares of the company’s stock, valued at approximately $109,000.

A number of other institutional investors have also recently added to or reduced their stakes in LOPE. AQR Capital Management LLC raised its stake in shares of Grand Canyon Education by 47.7% in the 2nd quarter. AQR Capital Management LLC now owns 538,532 shares of the company’s stock worth $74,452,000 after buying an additional 173,800 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Grand Canyon Education by 105.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 333,028 shares of the company’s stock valued at $43,973,000 after acquiring an additional 170,956 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Grand Canyon Education by 78.5% in the 1st quarter. Acadian Asset Management LLC now owns 308,357 shares of the company’s stock valued at $41,977,000 after acquiring an additional 135,626 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Grand Canyon Education by 41.0% during the 2nd 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Grand Canyon Education by 89.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company’s stock worth $24,215,000 after purchasing an additional 81,853 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on LOPE shares. StockNews.com upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Tuesday. Barrington Research restated an “outperform” rating and issued a $165.00 target price on shares of Grand Canyon Education in a report on Friday, September 20th. Finally, BMO Capital Markets boosted their target price on Grand Canyon Education from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.

Insider Transactions at Grand Canyon Education

In related news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total transaction of $211,845.00. Following the transaction, the chief technology officer now directly owns 22,674 shares of the company’s stock, valued at $3,202,249.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $142.60 on Wednesday. Grand Canyon Education, Inc. has a 52 week low of $112.38 and a 52 week high of $157.53. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.21 and a beta of 0.69. The company has a 50 day moving average price of $144.02 and a 200 day moving average price of $140.67.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. The business had revenue of $227.50 million for the quarter, compared to the consensus estimate of $223.56 million. Grand Canyon Education had a return on equity of 31.49% and a net margin of 21.88%. Grand Canyon Education’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. Equities analysts forecast that Grand Canyon Education, Inc. will post 7.98 earnings per share for the current fiscal year.

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.