Engineers Gate Manager LP Grows Stock Position in Grand Canyon Education, Inc. $LOPE

Engineers Gate Manager LP increased its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 37.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 46,565 shares of the company’s stock after purchasing an additional 12,744 shares during the period. Engineers Gate Manager LP’s holdings in Grand Canyon Education were worth $6,664,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LOPE. California State Teachers Retirement System raised its position in Grand Canyon Education by 13,436.9% in the 2nd quarter. California State Teachers Retirement System now owns 4,479,629 shares of the company’s stock valued at $641,080,000 after purchasing an additional 4,446,537 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Grand Canyon Education during the second quarter worth about $397,654,000. William Blair Investment Management LLC purchased a new stake in shares of Grand Canyon Education during the second quarter worth approximately $148,667,000. Reinhart Partners LLC. increased its stake in shares of Grand Canyon Education by 36.9% during the second quarter. Reinhart Partners LLC. now owns 882,927 shares of the company’s stock worth $126,358,000 after buying an additional 237,939 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in Grand Canyon Education by 15.6% in the fourth quarter. GW&K Investment Management LLC now owns 736,524 shares of the company’s stock valued at $122,493,000 after acquiring an additional 99,320 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Price Performance

Shares of LOPE opened at $151.20 on Friday. Grand Canyon Education, Inc. has a 1-year low of $134.27 and a 1-year high of $223.04. The stock has a market cap of $3.94 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58. The firm has a fifty day moving average price of $147.86 and a 200 day moving average price of $155.63.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.14. The company had revenue of $264.05 million for the quarter, compared to analyst estimates of $261.87 million. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 earnings per share. As a group, equities analysts expect that Grand Canyon Education, Inc. will post 10.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LOPE has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Barrington Research set a $200.00 price objective on shares of Grand Canyon Education in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. Truist Financial set a $100.00 target price on Grand Canyon Education in a report on Tuesday, June 9th. Finally, BMO Capital Markets cut their price target on Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.67.

Grand Canyon Education Profile

Grand Canyon Education, Inc is an education services company that provides technology, operational and support solutions to colleges and universities. Its services are designed to help partner institutions deliver traditional, online and hybrid academic programs while managing student recruitment, enrollment and ongoing support.

The company’s offerings include learning-management and information-technology systems, marketing and student outreach, academic counseling, finance and accounting support, faculty and curriculum services, and data analytics.