1,408 Shares in Grand Canyon Education, Inc. $LOPE Bought by USA Financial Formulas

Key Points

• USA Financial Formulas has purchased 1,408 shares of Grand Canyon Education, Inc. (NASDAQ:LOPE), valued at approximately $266,000.
• Grand Canyon Education reported $1.53 EPS for the latest quarter, exceeding analysts' expectations, with revenue also up by 8.8% year-over-year.
• The firm's stock has a current market capitalization of $6.13 billion and is rated as a "Buy" by analysts with a consensus target price of $208.67.

USA Financial Formulas purchased a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,408 shares of the company's stock, valued at approximately $266,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Grand Canyon Education during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Grand Canyon Education during the first quarter worth $35,000. WPG Advisers LLC purchased a new stake in Grand Canyon Education during the first quarter worth $44,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Grand Canyon Education by 58.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after buying an additional 96 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Grand Canyon Education by 107.8% during the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock worth $55,000 after buying an additional 165 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Grand Canyon Education Stock Down 0.6%

Shares of NASDAQ LOPE opened at $218.18 on Thursday. The firm has a 50-day simple moving average of $198.26 and a 200-day simple moving average of $187.40. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76. Grand Canyon Education, Inc. has a 52 week low of $130.69 and a 52 week high of $220.79.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.16. The business had revenue of $247.50 million during the quarter, compared to analysts' expectations of $240.90 million. Grand Canyon Education had a net margin of 22.15% and a return on equity of 31.50%. The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. As a group, equities research analysts expect that Grand Canyon Education, Inc. will post 8.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LOPE. Barrington Research restated an "outperform" rating and set a $230.00 price objective on shares of Grand Canyon Education in a research report on Tuesday, September 23rd. BMO Capital Markets reduced their price objective on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grand Canyon Education currently has an average rating of "Buy" and a consensus target price of $208.67.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.

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