Assenagon Asset Management S.A. Sells 31,838 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Assenagon Asset Management S.A. lessened its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 12.1% in the fourth quarter, Holdings Channel reports. The firm owned 231,543 shares of the company’s stock after selling 31,838 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Grand Canyon Education were worth $37,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pallas Capital Advisors LLC bought a new position in shares of Grand Canyon Education in the fourth quarter worth about $211,000. Reinhart Partners LLC. increased its stake in shares of Grand Canyon Education by 1.6% in the fourth quarter. Reinhart Partners LLC. now owns 330,946 shares of the company’s stock valued at $54,209,000 after buying an additional 5,339 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Grand Canyon Education by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,225 shares of the company’s stock worth $692,000 after purchasing an additional 63 shares during the last quarter. Diversified Trust Co bought a new position in shares of Grand Canyon Education in the 4th quarter worth about $201,000. Finally, GAMMA Investing LLC increased its stake in shares of Grand Canyon Education by 16.2% in the 4th quarter. GAMMA Investing LLC now owns 891 shares of the company’s stock valued at $146,000 after acquiring an additional 124 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Trading Up 1.2 %

Shares of NASDAQ LOPE opened at $171.00 on Friday. The business has a 50-day moving average of $164.99 and a 200-day moving average of $150.08. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 1.22 and a beta of 0.75. Grand Canyon Education, Inc. has a 12 month low of $118.48 and a 12 month high of $173.37.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $239.69 million. During the same period last year, the firm posted $1.26 EPS. Grand Canyon Education’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts predict that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity

In other news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $166.07, for a total value of $249,105.00. Following the transaction, the chief technology officer now owns 21,174 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

About Grand Canyon Education

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.