Jane Street Group LLC Reduces Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Jane Street Group LLC reduced its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 29.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 38,427 shares of the company’s stock after selling 16,043 shares during the period. Jane Street Group LLC’s holdings in Grand Canyon Education were worth $5,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Grand Canyon Education during the 2nd quarter valued at $437,000. Blue Trust Inc. lifted its holdings in shares of Grand Canyon Education by 710.7% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the company’s stock worth $83,000 after acquiring an additional 533 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Grand Canyon Education by 0.5% during the 2nd quarter. Raymond James & Associates now owns 60,258 shares of the company’s stock worth $8,431,000 after purchasing an additional 287 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Grand Canyon Education by 13.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 8,121 shares of the company’s stock valued at $1,136,000 after purchasing an additional 963 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in Grand Canyon Education in the 2nd quarter worth about $292,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Grand Canyon Education

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

Grand Canyon Education Stock Performance

LOPE stock opened at $168.35 on Tuesday. Grand Canyon Education, Inc. has a one year low of $118.48 and a one year high of $173.37. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.41 and a beta of 0.76. The firm has a 50-day simple moving average of $152.91 and a two-hundred day simple moving average of $146.40.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, beating 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 company had revenue of $238.30 million during the quarter, compared to the consensus estimate of $239.69 million. During the same period last year, the firm earned $1.26 earnings per share. Grand Canyon Education’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on LOPE shares. BMO Capital Markets boosted their target price on Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barrington Research increased their target price on Grand Canyon Education from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Robert W. Baird raised their price target on shares of Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

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.