Virtus Advisers LLC Invests $552,000 in Grand Canyon Education, Inc. $LOPE

Virtus Advisers LLC purchased a new position in Grand Canyon Education, Inc. (NASDAQ:LOPE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,858 shares of the company’s stock, valued at approximately $552,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Grand Canyon Education in the 2nd quarter valued at about $397,654,000. Bank of Montreal Can lifted its holdings in shares of Grand Canyon Education by 6,102.7% during the 4th quarter. Bank of Montreal Can now owns 480,460 shares of the company’s stock worth $79,905,000 after acquiring an additional 472,714 shares during the period. Norges Bank bought a new stake in shares of Grand Canyon Education during the 4th quarter worth approximately $61,919,000. William Blair Investment Management LLC boosted its position in shares of 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 in the last quarter. Finally, Reinhart Partners LLC. boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Grand Canyon Education Trading Down 0.4%

Shares of Grand Canyon Education stock opened at $146.27 on Friday. The firm has a market capitalization of $3.81 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.96 and a beta of 0.57. The firm’s 50 day moving average is $146.11 and its 200 day moving average is $157.14. Grand Canyon Education, Inc. has a 1 year low of $134.27 and a 1 year high of $223.04.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.81 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $261.87 million. During the same quarter in the prior year, the firm earned $1.53 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.