Grand Canyon Education Inc (LOPE) Position Boosted by Renaissance Technologies LLC

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Renaissance Technologies LLC boosted its position in Grand Canyon Education Inc (NASDAQ:LOPE) by 24.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,050,700 shares of the company’s stock after buying an additional 208,400 shares during the period. Renaissance Technologies LLC’s holdings in Grand Canyon Education were worth $118,519,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in Grand Canyon Education in the second quarter valued at $118,000. CIBC Asset Management Inc bought a new stake in Grand Canyon Education in the third quarter valued at $200,000. We Are One Seven LLC bought a new stake in Grand Canyon Education in the third quarter valued at $202,000. HRT Financial LLC bought a new stake in Grand Canyon Education in the second quarter valued at $213,000. Finally, Cornerstone Wealth Management LLC bought a new stake in Grand Canyon Education in the second quarter valued at $233,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

NASDAQ:LOPE opened at $114.13 on Friday. The company has a quick ratio of 4.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.73 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Grand Canyon Education Inc has a one year low of $85.14 and a one year high of $130.10.

Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Thursday, November 8th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $155.45 million during the quarter, compared to the consensus estimate of $153.31 million. Grand Canyon Education had a net margin of 23.60% and a return on equity of 21.66%. The firm’s revenue for the quarter was down 34.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, equities analysts predict that Grand Canyon Education Inc will post 4.88 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research note on Tuesday, November 13th. BidaskClub downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Barrington Research reaffirmed a “buy” rating and issued a $135.00 price target on shares of Grand Canyon Education in a research note on Friday, August 10th. Finally, Robert W. Baird lifted their price target on shares of Grand Canyon Education from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, November 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Grand Canyon Education presently has a consensus rating of “Buy” and a consensus price target of $141.40.

In other news, insider Dilek Marsh sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $126.00, for a total transaction of $504,000.00. Following the completion of the sale, the insider now directly owns 82,752 shares of the company’s stock, valued at $10,426,752. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO William Stan Meyer sold 15,000 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $127.00, for a total transaction of $1,905,000.00. Following the sale, the chief operating officer now directly owns 112,261 shares of the company’s stock, valued at $14,257,147. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,000 shares of company stock valued at $6,219,000. 2.40% of the stock is currently owned by insiders.

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Grand Canyon Education Company Profile

Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.

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Institutional Ownership by Quarter for Grand Canyon Education (NASDAQ:LOPE)

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