Verition Fund Management LLC Sells 530 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Verition Fund Management LLC trimmed its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 13.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,395 shares of the company’s stock after selling 530 shares during the period. Verition Fund Management LLC’s holdings in Grand Canyon Education were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LOPE. SG Americas Securities LLC boosted its holdings in Grand Canyon Education by 450.7% in the 2nd quarter. SG Americas Securities LLC now owns 17,578 shares of the company’s stock valued at $2,459,000 after purchasing an additional 14,386 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Grand Canyon Education in the 2nd quarter valued at $437,000. Assenagon Asset Management S.A. grew its holdings in shares of Grand Canyon Education by 42.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 220,376 shares of the company’s stock valued at $30,833,000 after purchasing an additional 65,518 shares during the last quarter. Reinhart Partners LLC. raised its position in Grand Canyon Education by 0.8% in the 2nd quarter. Reinhart Partners LLC. now owns 310,425 shares of the company’s stock worth $43,432,000 after purchasing an additional 2,566 shares during the period. Finally, Blue Trust Inc. grew its position 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 acquiring an additional 533 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on LOPE. Robert W. Baird raised their target price on Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets increased their target price on Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Barrington Research lifted their target price on Grand Canyon Education from $165.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the chief technology officer now owns 22,674 shares in the company, valued at $3,202,249.02. This trade represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

Grand Canyon Education Trading Up 0.3 %

Shares of LOPE opened at $169.61 on Thursday. Grand Canyon Education, Inc. has a 1-year low of $118.48 and a 1-year high of $173.37. The firm has a fifty day simple moving average of $151.10 and a two-hundred day simple moving average of $145.86. The firm has a market cap of $4.94 billion, a PE ratio of 22.29, a P/E/G ratio of 1.39 and a beta of 0.76.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 EPS 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 firm had revenue of $238.30 million during the quarter, compared to analyst estimates of $239.69 million. During the same period in the prior year, the business posted $1.26 EPS. Grand Canyon Education’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts forecast that Grand Canyon Education, Inc. will post 8.03 EPS 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.