Summit Global Investments Buys 1,751 Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE)

Summit Global Investments raised its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 25.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,730 shares of the company’s stock after purchasing an additional 1,751 shares during the period. Summit Global Investments’ holdings in Grand Canyon Education were worth $1,510,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LOPE. GeoWealth Management LLC purchased a new position in shares of Grand Canyon Education during the 4th quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Grand Canyon Education during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in Grand Canyon Education during the fourth quarter valued at approximately $32,000. Financial Life Planners bought a new position in shares of Grand Canyon Education in the fourth quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Grand Canyon Education in the fourth quarter worth $59,000. Institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Price Performance

NASDAQ LOPE opened at $195.36 on Friday. Grand Canyon Education, Inc. has a 1-year low of $130.69 and a 1-year high of $202.28. The business has a 50 day simple moving average of $181.81 and a two-hundred day simple moving average of $174.23. The stock has a market capitalization of $5.54 billion, a PE ratio of 25.24, a P/E/G ratio of 1.42 and a beta of 0.80.

Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Tuesday, May 6th. The company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.06. Grand Canyon Education had a return on equity of 30.67% and a net margin of 21.90%. The firm had revenue of $289.31 million during the quarter, compared to the consensus estimate of $287.18 million. During the same period in the prior year, the company earned $2.35 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LOPE has been the subject of a number of analyst reports. Barrington Research increased their price target on Grand Canyon Education from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. BMO Capital Markets upped their price target on Grand Canyon Education from $208.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Thursday, April 24th.

Grand Canyon Education Company 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.