Quantbot Technologies LP Acquires 7,266 Shares of Grand Canyon Education Inc (LOPE)

Quantbot Technologies LP lifted its holdings in shares of Grand Canyon Education Inc (NASDAQ:LOPE) by 351.5% in the third quarter, HoldingsChannel reports. The firm owned 9,333 shares of the company’s stock after acquiring an additional 7,266 shares during the period. Quantbot Technologies LP’s holdings in Grand Canyon Education were worth $1,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. FIL Ltd increased its stake in shares of Grand Canyon Education by 2.0% during the 3rd quarter. FIL Ltd now owns 1,929,082 shares of the company’s stock worth $217,600,000 after purchasing an additional 38,139 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Grand Canyon Education by 2.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,215,290 shares of the company’s stock worth $137,085,000 after acquiring an additional 26,000 shares during the period. Victory Capital Management Inc. grew its stake in Grand Canyon Education by 70.6% in the 3rd quarter. Victory Capital Management Inc. now owns 836,261 shares of the company’s stock worth $94,330,000 after acquiring an additional 346,017 shares during the period. Wells Fargo & Company MN grew its stake in Grand Canyon Education by 66.3% in the 3rd quarter. Wells Fargo & Company MN now owns 779,083 shares of the company’s stock worth $87,880,000 after acquiring an additional 310,475 shares during the period. Finally, Conestoga Capital Advisors LLC grew its stake in Grand Canyon Education by 12.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 748,067 shares of the company’s stock worth $84,382,000 after acquiring an additional 80,895 shares during the period. 95.02% of the stock is owned by institutional investors and hedge funds.

In other news, insider Dilek Marsh sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $126.00, for a total transaction of $504,000.00. Following the completion of the sale, the insider now directly owns 82,752 shares of the company’s stock, valued at approximately $10,426,752. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian E. Mueller sold 30,000 shares of the business’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $127.00, for a total transaction of $3,810,000.00. Following the sale, the chief executive officer now directly owns 308,739 shares of the company’s stock, valued at $39,209,853. The disclosure for this sale can be found here. Insiders have sold a total of 49,000 shares of company stock valued at $6,219,000 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Several analysts have commented on the stock. BidaskClub cut shares of Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Tuesday, November 13th. BMO Capital Markets lifted their target price on shares of Grand Canyon Education from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $135.00 target price on shares of Grand Canyon Education in a research note on Friday, August 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $141.40.

LOPE stock opened at $123.04 on Tuesday. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.57 and a beta of 0.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.65 and a quick ratio of 4.65. Grand Canyon Education Inc has a one year low of $85.14 and a one year high of $130.10.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Thursday, November 8th. The company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The firm had revenue of $155.45 million during the quarter, compared to analysts’ expectations of $153.31 million. Grand Canyon Education had a net margin of 23.60% and a return on equity of 21.66%. Grand Canyon Education’s revenue for the quarter was down 34.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. As a group, sell-side analysts expect that Grand Canyon Education Inc will post 4.88 EPS for the current year.

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Grand Canyon Education Company Profile

Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.

Further Reading: What is a Market Correction?

Want to see what other hedge funds are holding LOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grand Canyon Education Inc (NASDAQ:LOPE).

Institutional Ownership by Quarter for Grand Canyon Education (NASDAQ:LOPE)

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