Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 385,220 shares of the company’s stock after selling 13,789 shares during the period. Massachusetts Financial Services Co. MA owned 1.32% of Grand Canyon Education worth $54,643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Grand Canyon Education by 47.7% in the 2nd quarter. AQR Capital Management LLC now owns 538,532 shares of the company’s stock valued at $74,452,000 after buying an additional 173,800 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Grand Canyon Education by 41.0% in the second 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Grand Canyon Education by 89.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company’s stock valued at $24,215,000 after purchasing an additional 81,853 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in 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 in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Grand Canyon Education by 1,481.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 64,821 shares of the company’s stock worth $9,069,000 after purchasing an additional 60,723 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Stock Performance

Shares of LOPE opened at $166.45 on Monday. Grand Canyon Education, Inc. has a one year low of $118.48 and a one year high of $173.37. The stock’s fifty day moving average is $144.70 and its 200-day moving average is $143.93. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.35 and a beta of 0.70.

Grand Canyon Education (NASDAQ:LOPE) last issued 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. The firm had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $239.69 million. Grand Canyon Education had a net margin of 22.09% and a return on equity of 31.01%. Grand Canyon Education’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. Analysts forecast that Grand Canyon Education, Inc. will post 8.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the transaction, the chief technology officer now owns 22,674 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Grand Canyon Education 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.