Longboard Asset Management LP Invests $229,000 in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Longboard Asset Management LP bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,395 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in Grand Canyon Education during the 3rd quarter worth $28,000. True Wealth Design LLC acquired a new position in shares of Grand Canyon Education in the third quarter valued at about $31,000. Financial Life Planners acquired a new position in shares of Grand Canyon Education in the fourth quarter valued at about $37,000. Capital Performance Advisors LLP bought a new position in Grand Canyon Education during the third quarter worth about $60,000. Finally, Versant Capital Management Inc raised its stake in Grand Canyon Education by 66.0% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the company’s stock worth $69,000 after purchasing an additional 167 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total value of $249,105.00. Following the completion of the transaction, the chief technology officer now directly owns 21,174 shares in the company, valued at approximately $3,516,366.18. This represents a 6.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Grand Canyon Education Price Performance

Shares of LOPE opened at $177.03 on Tuesday. The firm has a 50 day simple moving average of $166.57 and a two-hundred day simple moving average of $152.47. Grand Canyon Education, Inc. has a one year low of $118.48 and a one year high of $180.98. The company has a market cap of $5.16 billion, a P/E ratio of 23.26, a P/E/G ratio of 1.33 and a beta of 0.74.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. The company had revenue of $238.30 million during 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%. Grand Canyon Education’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. On average, analysts expect that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LOPE shares. StockNews.com cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barrington Research restated an “outperform” rating and set a $180.00 price objective on shares of Grand Canyon Education in a research note on Monday, January 27th. Robert W. Baird upped their target price on Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their price target on Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a research 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.