Janney Montgomery Scott LLC Has $12.10 Million Stock Position in Grand Canyon Education, Inc. $LOPE

Janney Montgomery Scott LLC lifted its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,141 shares of the company’s stock after purchasing an additional 8,157 shares during the quarter. Janney Montgomery Scott LLC owned about 0.26% of Grand Canyon Education worth $12,096,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH raised its stake in Grand Canyon Education by 61.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 251,546 shares of the company’s stock worth $42,770,000 after buying an additional 95,470 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Grand Canyon Education during the first quarter valued at approximately $1,360,000. Silver Oak Securities Incorporated increased its holdings in shares of Grand Canyon Education by 11.1% during the first quarter. Silver Oak Securities Incorporated now owns 2,290 shares of the company’s stock valued at $389,000 after acquiring an additional 228 shares in the last quarter. BTC Capital Management Inc. increased its holdings in shares of Grand Canyon Education by 6.1% during the first quarter. BTC Capital Management Inc. now owns 3,874 shares of the company’s stock valued at $659,000 after acquiring an additional 222 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Grand Canyon Education by 109.4% during the fourth quarter. Hsbc Holdings PLC now owns 25,905 shares of the company’s stock worth $4,308,000 after purchasing an additional 13,535 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LOPE has been the subject of several research reports. Barrington Research reissued an “outperform” rating and issued a $230.00 price target on shares of Grand Canyon Education in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Grand Canyon Education in a research note on Thursday, June 4th. Finally, Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a report on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.00.

Grand Canyon Education Stock Up 3.6%

Shares of Grand Canyon Education stock opened at $148.30 on Thursday. Grand Canyon Education, Inc. has a 52 week low of $140.02 and a 52 week high of $223.04. The business has a 50 day moving average price of $154.79 and a 200-day moving average price of $163.31. The company has a market cap of $3.93 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.95 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 return on equity of 34.72% and a net margin of 19.54%.The company had revenue of $308.76 million for the quarter, compared to analysts’ expectations of $307.75 million. During the same quarter in the previous year, the firm earned $2.57 earnings per share. Grand Canyon Education’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts anticipate that Grand Canyon Education, Inc. will post 10.04 EPS 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.