Grand Canyon Education, Inc. $LOPE Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 53.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,003 shares of the company’s stock after selling 13,902 shares during the quarter. Hsbc Holdings PLC’s holdings in Grand Canyon Education were worth $2,041,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LOPE. SkyOak Wealth LLC acquired a new position in Grand Canyon Education in the 1st quarter valued at $227,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Grand Canyon Education by 3.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,640 shares of the company’s stock worth $959,000 after acquiring an additional 164 shares during the period. DGS Capital Management LLC lifted its stake in shares of Grand Canyon Education by 2.9% in the 1st quarter. DGS Capital Management LLC now owns 5,185 shares of the company’s stock worth $882,000 after acquiring an additional 147 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Grand Canyon Education by 4.0% in the first quarter. Private Advisor Group LLC now owns 2,003 shares of the company’s stock valued at $341,000 after acquiring an additional 77 shares in the last quarter. Finally, Optas LLC boosted its holdings in shares of Grand Canyon Education by 14.5% in the first quarter. Optas LLC now owns 1,711 shares of the company’s stock valued at $291,000 after acquiring an additional 217 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on LOPE shares. BMO Capital Markets cut their price target on shares of Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Weiss Ratings cut Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. 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. Finally, Truist Financial set a $100.00 price target on Grand Canyon Education in a research note 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $171.67.

Grand Canyon Education Stock Performance

Shares of LOPE opened at $139.94 on Monday. The firm’s 50-day moving average is $148.23 and its two-hundred day moving average is $160.92. Grand Canyon Education, Inc. has a twelve month low of $134.27 and a twelve month high of $223.04. The firm has a market capitalization of $3.71 billion, a P/E ratio of 17.49, a PEG ratio of 0.93 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE) last issued its 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 net margin of 19.54% and a return on equity of 34.72%. The company had revenue of $308.76 million during the quarter, compared to analysts’ expectations of $307.75 million. During the same period last year, the company posted $2.57 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Analysts predict that Grand Canyon Education, Inc. will post 10.04 EPS for the current year.

About Grand Canyon Education

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.