15,938 Grand Canyon Education, Inc. $LOPE Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Grand Canyon Education stake by 81.9%, selling 15,938 shares and retaining 3,521 shares valued at approximately $504,000.
• Institutional ownership remains high at 94.17%, with BlackRock and William Blair Investment Management initiating substantial positions and several other firms increasing their holdings.
• Analysts maintain a Moderate Buy consensus with an average price target of $161.67. Grand Canyon Education recently exceeded quarterly EPS and revenue expectations, reporting $1.81 EPS and $264.05 million in revenue.

Corient Private Wealth LP trimmed its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 81.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,521 shares of the company's stock after selling 15,938 shares during the period. Corient Private Wealth LP's holdings in Grand Canyon Education were worth $504,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Grand Canyon Education in the 2nd quarter valued at $397,654,000. William Blair Investment Management LLC acquired a new position in shares of Grand Canyon Education during the 2nd quarter worth $148,667,000. Reinhart Partners LLC. raised its holdings in shares of Grand Canyon Education by 36.9% during the 2nd quarter. Reinhart Partners LLC. now owns 882,927 shares of the company's stock worth $126,358,000 after buying an additional 237,939 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Grand Canyon Education by 15.6% during the 4th quarter. GW&K Investment Management LLC now owns 736,524 shares of the company's stock worth $122,493,000 after buying an additional 99,320 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Grand Canyon Education by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 578,110 shares of the company's stock worth $96,163,000 after buying an additional 26,593 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LOPE has been the subject of several research analyst reports. Barrington Research set a $200.00 target price on Grand Canyon Education in a research note on Friday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Grand Canyon Education in a research note on Tuesday, September 22nd. BMO Capital Markets decreased 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 report on Monday, July 6th. Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a research report on Tuesday, June 9th. 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.67.

Grand Canyon Education Trading Up 2.7%

Shares of LOPE stock opened at $151.59 on Thursday. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 0.96 and a beta of 0.58. The stock has a 50-day moving average of $148.97 and a 200-day moving average of $154.58. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.14. The firm had revenue of $264.05 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $1.53 EPS. Sell-side analysts forecast that Grand Canyon Education, Inc. will post 10.22 earnings per share for the current year.

Grand Canyon Education Profile

Grand Canyon Education, Inc is an education services company that provides technology, academic, operational and support services to postsecondary institutions. The company helps partner universities deliver traditional, online and hybrid degree programs, with services spanning student enrollment, counseling, marketing, curriculum development, faculty support, technology infrastructure and field-experience coordination.

Grand Canyon Education was established in 2003 and was historically associated with Grand Canyon University, a private university based in Phoenix, Arizona.

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