13,142 Shares in Grand Canyon Education, Inc. $LOPE Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC acquired 13,142 shares of Grand Canyon Education in the second quarter, valued at approximately $1.887 million. Institutional investors and hedge funds collectively own 94.17% of the company.
• Grand Canyon Education exceeded quarterly expectations, reporting $1.81 in EPS versus the $1.67 consensus estimate and $264.05 million in revenue, up 6.7% year over year.
• LOPE shares opened at $151.19, while analysts maintain a “Moderate Buy” consensus with an average price target of $161.67; ratings include three Buys and two Holds.

Hsbc Holdings PLC acquired a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 13,142 shares of the company's stock, valued at approximately $1,887,000. Hsbc Holdings PLC owned approximately 0.05% of Grand Canyon Education at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Crown Advisors Management Inc. purchased a new position in Grand Canyon Education in the 2nd quarter valued at $5,009,000. William Blair Investment Management LLC purchased a new position in shares of Grand Canyon Education in the second quarter worth about $148,667,000. Algert Global LLC boosted its position in Grand Canyon Education by 46.7% during the second quarter. Algert Global LLC now owns 155,265 shares of the company's stock worth $22,220,000 after acquiring an additional 49,394 shares during the last quarter. UBS Group AG grew its stake in Grand Canyon Education by 523.1% during the 4th quarter. UBS Group AG now owns 194,634 shares of the company's stock valued at $32,370,000 after acquiring an additional 163,397 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Grand Canyon Education in the 2nd quarter worth approximately $7,980,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Grand Canyon Education Stock Performance

Shares of NASDAQ:LOPE opened at $151.19 on Monday. Grand Canyon Education, Inc. has a 52 week low of $134.27 and a 52 week high of $223.04. The company's 50 day moving average is $146.78 and its two-hundred day moving average is $156.31. The company has a market cap of $3.94 billion, a PE ratio of 18.28, a P/E/G ratio of 0.98 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.14. The business had revenue of $264.05 million during the quarter, compared to analysts' expectations of $261.87 million. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 EPS. As a group, equities research analysts expect that Grand Canyon Education, Inc. will post 10.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LOPE. Truist Financial set a $100.00 target price on Grand Canyon Education in a report on Tuesday, June 9th. Barrington Research set a $200.00 target price on shares of Grand Canyon Education in a research note on Friday, July 31st. 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 reduced their price target on shares of Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently 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.

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