NewEdge Wealth LLC Acquires New Stake in Grand Canyon Education, Inc. $LOPE

NewEdge Wealth LLC bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 13,078 shares of the company’s stock, valued at approximately $1,872,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empirical Asset Management LLC acquired a new position in Grand Canyon Education in the 2nd quarter valued at about $795,000. BlackRock Inc. acquired a new stake in shares of Grand Canyon Education during the second quarter worth about $397,654,000. Deutsche Bank AG purchased a new position in shares of Grand Canyon Education in the second quarter valued at approximately $7,638,000. Crown Advisors Management Inc. acquired a new position in shares of Grand Canyon Education in the second quarter valued at approximately $5,009,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Grand Canyon Education in the second quarter valued at approximately $82,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of 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. Wall Street Zen downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings lowered Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Truist Financial set a $100.00 price objective on Grand Canyon Education in a research note on Tuesday, June 9th. Finally, Barrington Research set a $200.00 target price on Grand Canyon Education in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Grand Canyon Education currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Grand Canyon Education Stock Performance

LOPE stock opened at $146.27 on Friday. The company’s 50 day moving average price is $146.11 and its 200 day moving average price is $157.14. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.96 and a beta of 0.57. Grand Canyon Education, Inc. has a fifty-two week low of $134.27 and a fifty-two week high of $223.04.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.14. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The company had revenue of $264.05 million during the quarter, compared to the consensus estimate of $261.87 million. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts forecast that Grand Canyon Education, Inc. will post 10.24 EPS for the current fiscal 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.