Renaissance Technologies LLC Lowers Holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Renaissance Technologies LLC reduced its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 36.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,402 shares of the company’s stock after selling 37,900 shares during the quarter. Renaissance Technologies LLC owned about 0.22% of Grand Canyon Education worth $5,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its position in shares of Grand Canyon Education by 7.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,743 shares of the company’s stock valued at $144,000 after buying an additional 117 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Grand Canyon Education by 76.5% during the third quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 137 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Grand Canyon Education by 0.8% during the first quarter. Yousif Capital Management LLC now owns 21,028 shares of the company’s stock valued at $2,042,000 after buying an additional 168 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Grand Canyon Education by 85.3% during the third quarter. Bessemer Group Inc. now owns 415 shares of the company’s stock valued at $34,000 after buying an additional 191 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in shares of Grand Canyon Education by 3.4% during the third quarter. First Republic Investment Management Inc. now owns 7,054 shares of the company’s stock valued at $580,000 after buying an additional 233 shares during the last quarter. Institutional investors own 96.81% of the company’s stock.

Grand Canyon Education Stock Performance

Shares of LOPE opened at $108.55 on Friday. The company’s fifty day moving average is $113.33 and its 200 day moving average is $101.10. Grand Canyon Education, Inc. has a fifty-two week low of $78.37 and a fifty-two week high of $121.60. The stock has a market capitalization of $3.37 billion, a PE ratio of 18.98, a P/E/G ratio of 1.16 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. Grand Canyon Education had a net margin of 20.26% and a return on equity of 30.24%. The business had revenue of $258.70 million for the quarter, compared to analysts’ expectations of $256.17 million. During the same quarter in the previous year, the business posted $2.11 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts forecast that Grand Canyon Education, Inc. will post 6.39 earnings per share for the current year.

Analyst Ratings Changes

LOPE has been the topic of several recent analyst reports. Barrington Research lifted their price objective on shares of Grand Canyon Education from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. BMO Capital Markets boosted their price target on shares of Grand Canyon Education from $125.00 to $126.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 21st.

About Grand Canyon Education

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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.