Summit Global Investments Reduces Stock Position in Grand Canyon Education, Inc. $LOPE

Summit Global Investments lessened its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 47.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,714 shares of the company’s stock after selling 4,189 shares during the period. Summit Global Investments’ holdings in Grand Canyon Education were worth $802,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. GW&K Investment Management LLC boosted its stake in shares of Grand Canyon Education by 15.6% in the 4th quarter. GW&K Investment Management LLC now owns 736,524 shares of the company’s stock worth $122,493,000 after buying an additional 99,320 shares during the last quarter. AQR Capital Management LLC increased its position in Grand Canyon Education by 30.9% during the fourth quarter. AQR Capital Management LLC now owns 649,269 shares of the company’s stock valued at $107,980,000 after acquiring an additional 153,189 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in Grand Canyon Education by 17.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 613,375 shares of the company’s stock valued at $102,010,000 after acquiring an additional 90,070 shares during the period. Geode Capital Management LLC lifted its holdings in Grand Canyon Education by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 578,110 shares of the company’s stock valued at $96,163,000 after acquiring an additional 26,593 shares during the period. Finally, Reinhart Partners LLC. lifted its holdings in Grand Canyon Education by 135.3% in the fourth quarter. Reinhart Partners LLC. now owns 518,914 shares of the company’s stock valued at $86,303,000 after acquiring an additional 298,409 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Grand Canyon Education Trading Down 0.8%

Shares of NASDAQ:LOPE opened at $138.37 on Wednesday. The stock has a 50 day moving average of $149.49 and a 200 day moving average of $161.53. The company has a market cap of $3.67 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. Grand Canyon Education, Inc. has a 12-month low of $135.62 and a 12-month high of $223.04.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Thursday, April 30th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.08. Grand Canyon Education had a net margin of 19.54% and a return on equity of 34.72%. The company had revenue of $308.76 million for the quarter, compared to analysts’ expectations of $307.75 million. During the same quarter last year, the business earned $2.57 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts predict that Grand Canyon Education, Inc. will post 10.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LOPE has been the subject of a number of recent research reports. BMO Capital Markets cut their price target on Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. Barrington Research reiterated an “outperform” rating and issued a $230.00 price objective on shares of Grand Canyon Education in a research note on Thursday, April 16th. Weiss Ratings downgraded shares of Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Finally, Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a report on Tuesday, June 9th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.67.

Grand Canyon Education Company 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.