ABN AMRO Bank N.V. Acquires New Shares in Grand Canyon Education, Inc. $LOPE

Key Points

• ABN AMRO Bank N.V. acquired 149,363 shares of Grand Canyon Education in the second quarter, valued at approximately $21.38 million and representing about 0.57% of the company. Institutional investors collectively own 94.17% of LOPE.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $161.67, although some firms recently lowered their targets or downgraded the stock to “Hold.”
• Grand Canyon Education reported quarterly EPS of $1.81, beating estimates of $1.67, while revenue rose 6.7% year over year to $264.05 million. Shares opened at $144.20, near the lower end of their 52-week range.

ABN AMRO Bank N.V. bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 149,363 shares of the company's stock, valued at approximately $21,380,000. ABN AMRO Bank N.V. owned approximately 0.57% of Grand Canyon Education at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LOPE. NewEdge Advisors LLC increased its holdings in Grand Canyon Education by 4,339.5% during the first quarter. NewEdge Advisors LLC now owns 1,909 shares of the company's stock valued at $330,000 after buying an additional 1,866 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Grand Canyon Education by 14.9% during the first quarter. Goldman Sachs Group Inc. now owns 115,508 shares of the company's stock worth $19,985,000 after buying an additional 15,019 shares during the period. Empowered Funds LLC boosted its position in Grand Canyon Education by 2.1% during the 1st quarter. Empowered Funds LLC now owns 7,925 shares of the company's stock valued at $1,371,000 after acquiring an additional 161 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Grand Canyon Education by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,214 shares of the company's stock valued at $21,318,000 after acquiring an additional 8,421 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Grand Canyon Education by 156.9% in the 1st quarter. Jane Street Group LLC now owns 37,350 shares of the company's stock valued at $6,462,000 after acquiring an additional 22,812 shares during the period. Institutional investors own 94.17% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barrington Research set a $200.00 price target on Grand Canyon Education in a research report on Friday, July 31st. BMO Capital Markets dropped their price objective on 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. Truist Financial set a $100.00 target price on Grand Canyon Education in a research note on Tuesday, June 9th. Weiss Ratings downgraded shares of Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 25th. Finally, Wall Street Zen lowered shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $161.67.

Grand Canyon Education Stock Down 0.8%

Shares of NASDAQ LOPE opened at $144.20 on Friday. Grand Canyon Education, Inc. has a 52 week low of $134.27 and a 52 week high of $223.04. The business's 50 day moving average price is $146.49 and its 200 day moving average price is $158.07. The firm has a market cap of $3.76 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.94 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted 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. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The company had revenue of $264.05 million during the quarter, compared to analyst estimates of $261.87 million. During the same period last year, the firm posted $1.53 EPS. Grand Canyon Education's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, research analysts expect that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current year.

Grand Canyon Education 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.

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