Wasatch Advisors LP Reduces Stock Position in Grand Canyon Education, Inc. $LOPE

Wasatch Advisors LP cut its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 34.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 316,202 shares of the company’s stock after selling 166,982 shares during the period. Wasatch Advisors LP’s holdings in Grand Canyon Education were worth $53,764,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LOPE. Larson Financial Group LLC raised its stake in shares of Grand Canyon Education by 70.7% in the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company’s stock worth $26,000 after purchasing an additional 65 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in Grand Canyon Education by 1.0% in the third quarter. Orion Porfolio Solutions LLC now owns 6,475 shares of the company’s stock valued at $1,421,000 after buying an additional 65 shares during the last quarter. Burney Co. boosted its position in Grand Canyon Education by 1.8% in the fourth quarter. Burney Co. now owns 3,873 shares of the company’s stock valued at $644,000 after buying an additional 68 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Grand Canyon Education by 2.5% in the 3rd quarter. NewEdge Advisors LLC now owns 3,069 shares of the company’s stock worth $674,000 after buying an additional 76 shares during the period. Finally, Allworth Financial LP increased its holdings in Grand Canyon Education by 28.1% in the 4th quarter. Allworth Financial LP now owns 369 shares of the company’s stock worth $61,000 after buying an additional 81 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LOPE shares. Barrington Research reissued an “outperform” rating and set a $230.00 price target on shares of Grand Canyon Education in a research report on Thursday, April 16th. Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a report on Tuesday, June 9th. Weiss Ratings lowered shares of Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Grand Canyon Education in a report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Grand Canyon Education has an average rating of “Moderate Buy” and an average price target of $180.00.

Grand Canyon Education Stock Up 1.6%

Grand Canyon Education stock opened at $145.26 on Friday. The business’s 50-day moving average price is $156.56 and its 200 day moving average price is $163.48. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.56. Grand Canyon Education, Inc. has a 52 week low of $140.02 and a 52 week high of $223.04.

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. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.The company had revenue of $308.76 million during the quarter, compared to the consensus estimate of $307.75 million. During the same period in the previous year, the company posted $2.57 earnings per share. Grand Canyon Education’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts expect that Grand Canyon Education, Inc. will post 10.04 EPS for the current 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.