Point72 Hong Kong Ltd Invests $966,000 in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Point72 Hong Kong Ltd purchased a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,907 shares of the company’s stock, valued at approximately $966,000.

A number of other hedge funds also recently modified their holdings of LOPE. Norges Bank acquired a new stake in Grand Canyon Education in the 4th quarter valued at approximately $44,529,000. Goldman Sachs Group Inc. grew its stake in Grand Canyon Education by 105.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 333,028 shares of the company’s stock valued at $43,973,000 after purchasing an additional 170,956 shares in the last quarter. Acadian Asset Management LLC grew its stake in Grand Canyon Education by 78.5% in the first quarter. Acadian Asset Management LLC now owns 308,357 shares of the company’s stock valued at $41,977,000 after purchasing an additional 135,626 shares in the last quarter. Renaissance Technologies LLC grew its stake 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake 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 in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LOPE. Barrington Research restated an “outperform” rating and issued a $165.00 price target on shares of Grand Canyon Education in a research note on Friday, September 20th. BMO Capital Markets raised their price target on Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th.

Grand Canyon Education Trading Down 0.6 %

Shares of NASDAQ LOPE opened at $143.70 on Thursday. Grand Canyon Education, Inc. has a 12 month low of $112.38 and a 12 month high of $157.53. The stock has a 50 day moving average of $144.63 and a 200-day moving average of $140.34. The company has a market capitalization of $4.23 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.21 and a beta of 0.69.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.17. The business had revenue of $227.50 million during the quarter, compared to the consensus estimate of $223.56 million. Grand Canyon Education had a return on equity of 31.49% and a net margin of 21.88%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Analysts predict that Grand Canyon Education, Inc. will post 7.98 EPS for the current fiscal year.

Insider Activity at Grand Canyon Education

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total value of $211,845.00. Following the completion of the transaction, the chief technology officer now directly owns 22,674 shares of the company’s stock, valued at approximately $3,202,249.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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.