Pacer Advisors Inc. lowered its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 25.4% during the third quarter, HoldingsChannel.com reports. The institutional investors owned 78,077 shares of the company’s stock after selling 26,651 shares during the quarter. Pacer Advisors Inc.’s holdings in Grand Canyon Education were worth $6,422,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in LOPE. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Grand Canyon Education during the 1st quarter worth $43,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Grand Canyon Education in the second quarter valued at about $63,000. First Horizon Advisors Inc. increased its position in Grand Canyon Education by 236.8% during the second quarter. First Horizon Advisors Inc. now owns 751 shares of the company’s stock worth $70,000 after purchasing an additional 528 shares during the last quarter. Assetmark Inc. raised its stake in Grand Canyon Education by 94.2% during the second quarter. Assetmark Inc. now owns 866 shares of the company’s stock worth $82,000 after purchasing an additional 420 shares during the period. Finally, Van ECK Associates Corp acquired a new position in Grand Canyon Education in the 2nd quarter valued at about $100,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.
Grand Canyon Education Stock Performance
Shares of LOPE stock opened at $106.10 on Monday. Grand Canyon Education, Inc. has a one-year low of $72.00 and a one-year high of $114.33. The firm’s 50 day moving average price is $103.04 and its 200-day moving average price is $92.50. The firm has a market cap of $3.30 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.21 and a beta of 0.55.
Grand Canyon Education (NASDAQ:LOPE – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.15. Grand Canyon Education has a return on equity of 27.54% and a net margin of 21.99%. The company had revenue of $208.72 million for the quarter, compared to analysts’ expectations of $208.30 million. As a group, research analysts predict that Grand Canyon Education, Inc. will post 5.85 EPS for the current fiscal year.
Insider Buying and Selling
In other Grand Canyon Education news, Director Sara R. Dial sold 1,614 shares of Grand Canyon Education stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $107.27, for a total value of $173,133.78. Following the completion of the transaction, the director now directly owns 3,972 shares of the company’s stock, valued at approximately $426,076.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on LOPE shares. The Street raised shares of Grand Canyon Education from a “c+” rating to a “b-” rating in a research report on Wednesday, November 9th. BMO Capital Markets upped their price target on Grand Canyon Education from $98.00 to $120.00 in a research note on Friday, November 11th. Finally, StockNews.com cut Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Saturday, November 5th.
Grand Canyon Education Profile
Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company’s technology services include learning management system, internal administration, infrastructure, and support services; academic services comprise program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support including admission, financial aid, and field experience and other counseling services.
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