Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 518,323 shares of the company’s stock after selling 41,535 shares during the quarter. Geode Capital Management LLC owned about 1.78% of Grand Canyon Education worth $73,542,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in shares of Grand Canyon Education during the 3rd quarter worth about $28,000. True Wealth Design LLC purchased a new stake in Grand Canyon Education during the third quarter worth approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Grand Canyon Education during the third quarter worth approximately $60,000. GAMMA Investing LLC increased its position in shares of Grand Canyon Education by 19.8% in the third quarter. GAMMA Investing LLC now owns 767 shares of the company’s stock worth $109,000 after acquiring an additional 127 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Grand Canyon Education in the 2nd quarter valued at $109,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total transaction of $249,105.00. Following the sale, the chief technology officer now owns 21,174 shares in the company, valued at $3,516,366.18. This represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

Grand Canyon Education Price Performance

NASDAQ:LOPE opened at $160.31 on Friday. The firm has a 50-day moving average of $155.22 and a two-hundred day moving average of $146.89. The stock has a market cap of $4.67 billion, a P/E ratio of 21.07, a PEG ratio of 1.41 and a beta of 0.76. Grand Canyon Education, Inc. has a 1-year low of $118.48 and a 1-year high of $173.37.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results 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 business had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $239.69 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.