Glenmede Trust Co. NA Invests $334,000 in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Glenmede Trust Co. NA acquired a new position in Grand Canyon Education, Inc. (NASDAQ:LOPE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,356 shares of the company’s stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds have also modified their holdings of LOPE. AQR Capital Management LLC raised its stake in Grand Canyon Education by 47.7% during the 2nd quarter. AQR Capital Management LLC now owns 538,532 shares of the company’s stock valued at $74,452,000 after purchasing an additional 173,800 shares during the last quarter. FMR LLC raised its stake in Grand Canyon Education by 12.0% during the 3rd quarter. FMR LLC now owns 1,323,406 shares of the company’s stock valued at $187,725,000 after purchasing an additional 141,648 shares during the last quarter. Renaissance Technologies LLC raised its stake in Grand Canyon Education by 41.0% during the 2nd 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 raised its stake in Grand Canyon Education by 89.7% during the 2nd 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. Finally, Assenagon Asset Management S.A. raised 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 during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the sale, the chief technology officer now owns 22,674 shares of the company’s stock, valued at approximately $3,202,249.02. This represents a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Grand Canyon Education Price Performance

Shares of Grand Canyon Education stock opened at $170.30 on Thursday. The firm has a market capitalization of $4.96 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.39 and a beta of 0.76. The company’s fifty day moving average price is $148.47 and its two-hundred day moving average price is $145.08. Grand Canyon Education, Inc. has a 52-week low of $118.48 and a 52-week high of $173.37.

Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.01. Grand Canyon Education had a net margin of 22.09% and a return on equity of 31.01%. The business had revenue of $238.30 million for the quarter, compared to analyst estimates of $239.69 million. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts predict that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LOPE has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird upped their target price on shares of Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barrington Research boosted their price target on shares of 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 lowered shares of 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.