MetLife Investment Management LLC Sells 426 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

MetLife Investment Management LLC decreased its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,446 shares of the company’s stock after selling 426 shares during the quarter. MetLife Investment Management LLC’s holdings in Grand Canyon Education were worth $2,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Grand Canyon Education by 47.7% during the second 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 in the last quarter. FMR LLC lifted its holdings in Grand Canyon Education by 12.0% during the third quarter. FMR LLC now owns 1,323,406 shares of the company’s stock worth $187,725,000 after acquiring an additional 141,648 shares in the last quarter. Renaissance Technologies LLC grew its stake in Grand Canyon Education by 41.0% in the second quarter. Renaissance Technologies LLC now owns 285,057 shares of the company’s stock valued at $39,882,000 after acquiring an additional 82,855 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Grand Canyon Education by 89.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company’s stock worth $24,215,000 after acquiring an additional 81,853 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Grand Canyon Education by 42.3% during the second quarter. Assenagon Asset Management S.A. now owns 220,376 shares of the company’s stock worth $30,833,000 after purchasing an additional 65,518 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Grand Canyon Education Stock Performance

NASDAQ LOPE opened at $169.80 on Friday. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.38 and a beta of 0.76. Grand Canyon Education, Inc. has a 52 week low of $118.48 and a 52 week high of $173.37. The stock’s 50 day moving average price is $149.01 and its two-hundred day moving average price is $145.25.

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

Insider Activity

In other news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LOPE has been the subject of several research analyst reports. Robert W. Baird boosted their price objective 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. Barrington Research upped their price target on shares of Grand Canyon Education from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

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.