Summit Global Investments Purchases New Stake in Grand Canyon Education, Inc. $LOPE

Summit Global Investments purchased a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,448 shares of the company’s stock, valued at approximately $637,000.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Grand Canyon Education during the fourth quarter worth about $25,000. Toronto Dominion Bank purchased a new position in Grand Canyon Education during the 4th quarter valued at about $26,000. Larson Financial Group LLC increased its holdings in Grand Canyon Education by 70.7% during the 4th quarter. Larson Financial Group LLC now owns 157 shares of the company’s stock valued at $26,000 after purchasing an additional 65 shares during the period. Leonteq Securities AG increased its holdings in Grand Canyon Education by 48.9% during the 1st quarter. Leonteq Securities AG now owns 195 shares of the company’s stock valued at $33,000 after purchasing an additional 64 shares during the period. Finally, Financial Life Planners bought a new position in Grand Canyon Education during the 1st quarter valued at approximately $33,000. Institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Price Performance

Shares of LOPE opened at $144.20 on Friday. Grand Canyon Education, Inc. has a one year low of $134.27 and a one year high of $223.04. The company has a 50-day simple moving average of $146.49 and a two-hundred day simple moving average of $158.07. The firm has a market capitalization of $3.76 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.94 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $264.05 million for the quarter, compared to analysts’ expectations of $261.87 million. During the same period in the previous year, the firm posted $1.53 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Analysts expect that Grand Canyon Education, Inc. will post 10.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOPE. BMO Capital Markets dropped their price objective on Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Wall Street Zen cut Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings downgraded Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Barrington Research set a $200.00 price target on shares of Grand Canyon Education in a report on Friday, July 31st. Finally, Truist Financial set a $100.00 price target 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.67.

Grand Canyon Education 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.