The Manufacturers Life Insurance Company Invests $2.64 Million in Grand Canyon Education, Inc. $LOPE

The Manufacturers Life Insurance Company acquired a new stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) during the second quarter, Holdings Channel.com reports. The firm acquired 18,472 shares of the company’s stock, valued at approximately $2,644,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crown Advisors Management Inc. acquired a new position in Grand Canyon Education in the second quarter valued at approximately $5,009,000. William Blair Investment Management LLC acquired a new stake in shares of Grand Canyon Education during the 2nd quarter worth approximately $148,667,000. BlackRock Inc. bought a new stake in shares of Grand Canyon Education in the 2nd quarter valued at $397,654,000. Algert Global LLC increased its stake in shares of Grand Canyon Education by 46.7% in the 2nd quarter. Algert Global LLC now owns 155,265 shares of the company’s stock valued at $22,220,000 after acquiring an additional 49,394 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Grand Canyon Education during the 2nd quarter valued at $7,980,000. Institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Stock Down 0.3%

Shares of LOPE opened at $149.59 on Thursday. The business’s fifty day moving average is $147.14 and its 200 day moving average is $156.03. Grand Canyon Education, Inc. has a 12-month low of $134.27 and a 12-month high of $223.04. The stock has a market cap of $3.90 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.98 and a beta of 0.58.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.81 EPS for the quarter, beating 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 business had revenue of $264.05 million during the quarter, compared to analyst estimates of $261.87 million. During the same quarter in the previous year, the business posted $1.53 EPS. Grand Canyon Education’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts expect that Grand Canyon Education, Inc. will post 10.24 EPS for the current year.

Analyst Upgrades and Downgrades

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

Grand Canyon Education Company 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.