Grand Canyon Education, Inc. $LOPE Stake Cut by Riverbridge Partners LLC

Riverbridge Partners LLC cut its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 16.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 716,586 shares of the company’s stock after selling 136,521 shares during the quarter. Grand Canyon Education comprises approximately 3.0% of Riverbridge Partners LLC’s portfolio, making the stock its 5th largest holding. Riverbridge Partners LLC owned about 2.64% of Grand Canyon Education worth $121,841,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on LOPE. BMO Capital Markets reissued an “outperform” rating on shares of Grand Canyon Education in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Grand Canyon Education in a report on Friday, April 10th. Barrington Research reiterated an “outperform” rating and issued a $230.00 price objective on shares of Grand Canyon Education in a research report on Thursday, April 16th. Finally, Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a research note 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 has an average rating of “Moderate Buy” and an average target price of $180.00.

Grand Canyon Education Trading Up 0.8%

Shares of LOPE opened at $143.16 on Wednesday. Grand Canyon Education, Inc. has a twelve month low of $140.02 and a twelve month high of $223.04. The stock’s 50 day moving average is $157.99 and its two-hundred day moving average is $163.75. The firm has a market capitalization of $3.80 billion, a PE ratio of 17.89, a P/E/G ratio of 0.94 and a beta of 0.56.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Thursday, April 30th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.08. The company had revenue of $308.76 million for the quarter, compared to analysts’ expectations of $307.75 million. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 EPS. On average, sell-side analysts predict that Grand Canyon Education, Inc. will post 10.04 EPS for the current year.

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.