Summit Global Investments Makes New Investment in Grand Canyon Education, Inc. $LOPE

Summit Global Investments bought a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,448 shares of the company’s stock, valued at approximately $637,000.

A number of other hedge funds have also added to or reduced their stakes in LOPE. State of Alaska Department of Revenue increased its holdings in Grand Canyon Education by 252.6% during the 4th quarter. State of Alaska Department of Revenue now owns 16,106 shares of the company’s stock worth $2,676,000 after acquiring an additional 11,538 shares during the period. UBS Group AG boosted its holdings in Grand Canyon Education by 523.1% in 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 period. Van Berkom & Associates Inc. boosted its holdings in Grand Canyon Education by 17.2% in the 4th quarter. Van Berkom & Associates Inc. now owns 613,375 shares of the company’s stock valued at $102,010,000 after purchasing an additional 90,070 shares during the period. Hsbc Holdings PLC boosted its holdings in Grand Canyon Education by 109.4% in the 4th quarter. Hsbc Holdings PLC now owns 25,905 shares of the company’s stock valued at $4,308,000 after purchasing an additional 13,535 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of Grand Canyon Education by 48.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 50,575 shares of the company’s stock valued at $8,411,000 after purchasing an additional 16,562 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Stock Down 0.8%

Grand Canyon Education stock opened at $144.20 on Friday. The firm has a fifty day simple moving average of $146.49 and a two-hundred day simple moving average of $158.07. Grand Canyon Education, Inc. has a twelve month low of $134.27 and a twelve month high of $223.04. The company has a market capitalization of $3.76 billion, a PE ratio of 17.44, a P/E/G ratio of 0.94 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.14. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The firm had revenue of $264.05 million for the quarter, compared to analysts’ expectations of $261.87 million. During the same period last year, the firm earned $1.53 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts expect that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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