Summit Global Investments Lowers Holdings in Grand Canyon Education, Inc. $LOPE

Summit Global Investments lessened its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 47.1% during the 1st quarter, Holdings Channel reports. 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 reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in Grand Canyon Education by 6,102.7% during the 4th quarter. Bank of Montreal Can now owns 480,460 shares of the company’s stock valued at $79,905,000 after buying an additional 472,714 shares in the last quarter. Norges Bank purchased a new position in Grand Canyon Education during the fourth quarter valued at $61,919,000. William Blair Investment Management LLC increased its holdings in Grand Canyon Education by 281.9% in the 4th quarter. William Blair Investment Management LLC now owns 453,140 shares of the company’s stock valued at $75,362,000 after acquiring an additional 334,486 shares during the last quarter. Reinhart Partners LLC. lifted its stake in Grand Canyon Education by 135.3% in the 4th quarter. Reinhart Partners LLC. now owns 518,914 shares of the company’s stock worth $86,303,000 after purchasing an additional 298,409 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Grand Canyon Education by 523.1% during the 4th quarter. UBS Group AG now owns 194,634 shares of the company’s stock valued at $32,370,000 after purchasing an additional 163,397 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LOPE. BMO Capital Markets reduced their target price on Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating on the stock in a report on Monday, July 6th. Barrington Research restated an “outperform” rating and set a $230.00 price target on shares of Grand Canyon Education in a report on Thursday, April 16th. Truist Financial set a $100.00 price objective on Grand Canyon Education in a report on Tuesday, June 9th. Finally, Weiss Ratings cut Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.67.

Grand Canyon Education Stock Down 0.8%

Shares of NASDAQ:LOPE opened at $138.37 on Wednesday. The firm has a fifty day simple moving average of $149.49 and a two-hundred day simple moving average of $161.53. Grand Canyon Education, Inc. has a 52 week low of $135.62 and a 52 week high of $223.04. The stock has a market capitalization of $3.67 billion, a P/E ratio of 17.30, a PEG ratio of 0.93 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Thursday, April 30th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $308.76 million for the quarter, compared to analysts’ expectations of $307.75 million. During the same period in the prior year, the company earned $2.57 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. On average, analysts expect that Grand Canyon Education, Inc. will post 10.04 earnings per share 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.