Grand Canyon Education, Inc. (NASDAQ:LOPE) Stake Boosted by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 113.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,213 shares of the company’s stock after buying an additional 4,901 shares during the period. Icon Wealth Advisors LLC’s holdings in Grand Canyon Education were worth $1,307,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of LOPE. AQR Capital Management LLC raised its position in shares of Grand Canyon Education by 47.7% during the 2nd quarter. AQR Capital Management LLC now owns 538,532 shares of the company’s stock worth $74,452,000 after purchasing an additional 173,800 shares during the period. Renaissance Technologies LLC lifted its position in Grand Canyon Education by 41.0% in 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 grew its position in Grand Canyon Education by 89.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company’s stock worth $24,215,000 after purchasing an additional 81,853 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Grand Canyon Education by 42.3% in the second 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 period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Grand Canyon Education by 1,481.8% during the second quarter. Cubist Systematic Strategies LLC now owns 64,821 shares of the company’s stock valued at $9,069,000 after buying an additional 60,723 shares during the last quarter. 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 that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the transaction, the chief technology officer now owns 22,674 shares of the company’s stock, valued at $3,202,249.02. The trade was a 6.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Grand Canyon Education Price Performance

Shares of NASDAQ:LOPE opened at $166.45 on Friday. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.35 and a beta of 0.70. Grand Canyon Education, Inc. has a 12 month low of $118.48 and a 12 month high of $173.37. The stock’s 50 day moving average price is $144.70 and its 200 day moving average price is $143.92.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.01. The company had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $239.69 million. Grand Canyon Education had a return on equity of 31.01% and a net margin of 22.09%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $1.26 EPS. On average, sell-side analysts expect 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.