Texas Permanent School Fund Cuts Stock Position in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Texas Permanent School Fund lowered its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 10.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,620 shares of the company’s stock after selling 2,370 shares during the period. Texas Permanent School Fund’s holdings in Grand Canyon Education were worth $2,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its stake in shares of Grand Canyon Education by 160.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 300 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Grand Canyon Education by 76.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock valued at $26,000 after acquiring an additional 137 shares in the last quarter. Bessemer Group Inc. lifted its position in Grand Canyon Education by 85.3% in the 3rd quarter. Bessemer Group Inc. now owns 415 shares of the company’s stock valued at $34,000 after acquiring an additional 191 shares in the last quarter. IFP Advisors Inc lifted its position in Grand Canyon Education by 143.5% in the 3rd quarter. IFP Advisors Inc now owns 828 shares of the company’s stock valued at $93,000 after acquiring an additional 488 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Grand Canyon Education by 17.8% in the 4th quarter. Signaturefd LLC now owns 849 shares of the company’s stock valued at $90,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insiders Place Their Bets

In other Grand Canyon Education news, insider Kathy J. Claypatch sold 1,500 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $112.59, for a total value of $168,885.00. Following the completion of the sale, the insider now owns 8,550 shares in the company, valued at approximately $962,644.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Grand Canyon Education Stock Performance

Shares of Grand Canyon Education stock opened at $109.49 on Thursday. Grand Canyon Education, Inc. has a one year low of $78.37 and a one year high of $124.53. The stock’s fifty day moving average is $113.46 and its 200 day moving average is $110.61. The stock has a market cap of $3.36 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.16 and a beta of 0.62.

Grand Canyon Education (NASDAQ:LOPE – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.04. Grand Canyon Education had a return on equity of 30.99% and a net margin of 20.29%. The business had revenue of $250.13 million during the quarter, compared to analyst estimates of $249.74 million. During the same quarter in the prior year, the business posted $1.72 EPS. Grand Canyon Education’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Grand Canyon Education, Inc. will post 6.43 EPS for the current year.

Wall Street Analysts Forecast Growth

LOPE has been the topic of several analyst reports. Barrington Research upped their price objective on Grand Canyon Education from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 3rd. BMO Capital Markets increased their price target on Grand Canyon Education from $125.00 to $126.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. Finally, StockNews.com assumed coverage on Grand Canyon Education in a report on Thursday, March 16th. They set a “hold” rating on the stock.

Grand Canyon Education Profile

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Grand Canyon Education, Inc engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.