Principal Financial Group Inc. Sells 30,202 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Principal Financial Group Inc. lowered its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 30.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,541 shares of the company’s stock after selling 30,202 shares during the period. Principal Financial Group Inc. owned 0.23% of Grand Canyon Education worth $9,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Reston Wealth Management LLC bought a new position in Grand Canyon Education during the third quarter worth about $28,000. Versant Capital Management Inc boosted its stake in shares of Grand Canyon Education by 14,150.0% during the 2nd quarter. Versant Capital Management Inc now owns 285 shares of the company’s stock worth $40,000 after acquiring an additional 283 shares during the period. Blue Trust Inc. increased its holdings in shares of Grand Canyon Education by 710.7% during the 2nd quarter. Blue Trust Inc. now owns 608 shares of the company’s stock worth $83,000 after acquiring an additional 533 shares during the last quarter. GAMMA Investing LLC raised its stake in Grand Canyon Education by 46.1% in the 2nd quarter. GAMMA Investing LLC now owns 640 shares of the company’s stock valued at $90,000 after acquiring an additional 202 shares during the period. Finally, Quarry LP acquired a new stake in Grand Canyon Education during the 2nd quarter valued at $109,000. Institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Stock Performance

Shares of Grand Canyon Education stock opened at $161.81 on Tuesday. The firm has a 50-day moving average of $142.39 and a 200-day moving average of $143.10. Grand Canyon Education, Inc. has a 52-week low of $118.48 and a 52-week high of $173.37. The stock has a market cap of $4.72 billion, a PE ratio of 21.26, a PEG ratio of 1.33 and a beta of 0.70.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.01. Grand Canyon Education had a net margin of 22.09% and a return on equity of 31.01%. The business had revenue of $238.30 million during the quarter, compared to analysts’ expectations of $239.69 million. During the same quarter in the previous year, the company earned $1.26 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Equities research analysts predict that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total transaction of $211,845.00. Following the completion of the sale, the chief technology officer now owns 22,674 shares of the company’s stock, valued at approximately $3,202,249.02. This represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LOPE has been the topic of several research reports. StockNews.com downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Friday. 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. Robert W. Baird increased their price target on shares of Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barrington Research boosted their price objective on 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 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.