Truist Financial Corp Trims Holdings in Grand Canyon Education, Inc. $LOPE

Truist Financial Corp trimmed its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 59.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,132 shares of the company’s stock after selling 10,551 shares during the quarter. Truist Financial Corp’s holdings in Grand Canyon Education were worth $1,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOPE. Principal Financial Group Inc. boosted its position in shares of Grand Canyon Education by 7.6% during the 3rd quarter. Principal Financial Group Inc. now owns 101,278 shares of the company’s stock valued at $22,233,000 after acquiring an additional 7,167 shares during the last quarter. Van Berkom & Associates Inc. increased its stake in Grand Canyon Education by 3.0% in the third quarter. Van Berkom & Associates Inc. now owns 523,305 shares of the company’s stock worth $114,876,000 after purchasing an additional 15,235 shares during the period. State of Alaska Department of Revenue increased its stake in Grand Canyon Education by 252.6% in the fourth quarter. State of Alaska Department of Revenue now owns 16,106 shares of the company’s stock worth $2,676,000 after purchasing an additional 11,538 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Grand Canyon Education by 3.3% during the third quarter. Allianz Asset Management GmbH now owns 405,506 shares of the company’s stock valued at $89,017,000 after buying an additional 12,834 shares during the period. Finally, Azzad Asset Management Inc. ADV purchased a new position in shares of Grand Canyon Education during the third quarter valued at $2,030,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOPE has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Grand Canyon Education in a research note on Friday, April 10th. Barrington Research reissued an “outperform” rating and issued a $230.00 price target on shares of Grand Canyon Education in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.00.

Grand Canyon Education Trading Down 1.6%

Shares of NASDAQ:LOPE opened at $157.86 on Friday. Grand Canyon Education, Inc. has a 12-month low of $149.37 and a 12-month high of $223.04. The company has a market capitalization of $4.18 billion, a PE ratio of 19.73, a PEG ratio of 1.05 and a beta of 0.62. The business has a 50 day moving average of $167.08 and a two-hundred day moving average of $167.83.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.08. The company had revenue of $308.76 million during the quarter, compared to the consensus estimate of $307.75 million. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.Grand Canyon Education’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. Equities research analysts predict that Grand Canyon Education, Inc. will post 10.22 earnings per share for the current fiscal year.

Grand Canyon Education Profile

Grand Canyon Education, Inc provides a suite of higher‐education services through a long-term agreement with Grand Canyon University (GCU), one of the nation’s largest private Christian universities. The company’s offerings encompass a full range of academic and operational support functions, including enrollment management, student recruitment, curriculum development, instructional delivery, and technology infrastructure. Through its online program management capabilities, Grand Canyon Education helps design, market and deliver undergraduate, graduate and certificate programs to meet the needs of both traditional and non‐traditional learners.

Core services include digital marketing, admissions support, student success coaching, learning management systems and faculty recruitment.