JPMorgan Chase & Co. Has $22.43 Million Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

JPMorgan Chase & Co. raised its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 4.0% during the third quarter, Holdings Channel.com reports. The fund owned 158,123 shares of the company’s stock after purchasing an additional 6,041 shares during the period. JPMorgan Chase & Co.’s holdings in Grand Canyon Education were worth $22,430,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Arizona State Retirement System increased its stake in Grand Canyon Education by 1.9% in the second quarter. Arizona State Retirement System now owns 8,404 shares of the company’s stock valued at $1,176,000 after purchasing an additional 156 shares in the last quarter. Candriam S.C.A. increased its position in shares of Grand Canyon Education by 7.6% in the 2nd quarter. Candriam S.C.A. now owns 12,817 shares of the company’s stock valued at $1,793,000 after buying an additional 900 shares in the last quarter. Savant Capital LLC raised its stake in Grand Canyon Education by 8.7% during the 2nd quarter. Savant Capital LLC now owns 9,503 shares of the company’s stock worth $1,330,000 after buying an additional 763 shares during the period. Choreo LLC bought a new position in Grand Canyon Education during the second quarter worth about $332,000. Finally, Texas Permanent School Fund Corp grew its stake in Grand Canyon Education by 19.2% in the second quarter. Texas Permanent School Fund Corp now owns 30,831 shares of the company’s stock valued at $4,314,000 after acquiring an additional 4,963 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total transaction of $249,105.00. Following the sale, the chief technology officer now directly owns 21,174 shares of the company’s stock, valued at approximately $3,516,366.18. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

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

Grand Canyon Education Trading Up 1.3 %

NASDAQ:LOPE opened at $163.73 on Thursday. The stock has a 50 day simple moving average of $162.79 and a 200 day simple moving average of $149.11. The stock has a market cap of $4.77 billion, a P/E ratio of 21.52, a PEG ratio of 1.38 and a beta of 0.75. Grand Canyon Education, Inc. has a 1-year low of $118.48 and a 1-year 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 analysts’ consensus estimates of $1.47 by $0.01. Grand Canyon Education had a return on equity of 31.01% and a net margin of 22.09%. The company had revenue of $238.30 million during the quarter, compared to the consensus estimate of $239.69 million. During the same quarter last year, the firm earned $1.26 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Grand Canyon Education, Inc. will post 8.03 EPS for the current year.

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.