Allspring Global Investments Holdings LLC Lowers Stake in Grand Canyon Education, Inc. $LOPE

Key Points

• Allspring Global Investments reduced its Grand Canyon Education stake by 86.5% in the first quarter, selling 22,628 shares and retaining 3,526 shares valued at approximately $604,000.
• Other institutional investors, including Goldman Sachs, UBS Asset Management, and Jane Street, increased their positions; institutions and hedge funds collectively own 94.17% of LOPE shares.
• Grand Canyon Education beat quarterly earnings and revenue estimates, reporting $2.86 EPS and $308.76 million in revenue. Analysts maintain a “Moderate Buy” consensus with a $171.67 price target, compared with the stock’s $150.45 opening price.

Allspring Global Investments Holdings LLC decreased its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 86.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,526 shares of the company's stock after selling 22,628 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Grand Canyon Education were worth $604,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in Grand Canyon Education by 4,339.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,909 shares of the company's stock valued at $330,000 after acquiring an additional 1,866 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Grand Canyon Education by 14.9% in the first quarter. Goldman Sachs Group Inc. now owns 115,508 shares of the company's stock valued at $19,985,000 after purchasing an additional 15,019 shares during the period. Empowered Funds LLC boosted its stake in shares of Grand Canyon Education by 2.1% in the first quarter. Empowered Funds LLC now owns 7,925 shares of the company's stock valued at $1,371,000 after purchasing an additional 161 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Grand Canyon Education by 7.3% in the first 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 purchasing an additional 8,421 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Grand Canyon Education by 156.9% in the first quarter. Jane Street Group LLC now owns 37,350 shares of the company's stock valued at $6,462,000 after purchasing an additional 22,812 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Stock Performance

Shares of LOPE stock opened at $150.45 on Wednesday. The stock's 50-day moving average is $147.72 and its two-hundred day moving average is $160.60. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 0.96 and a beta of 0.57. 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 posted its earnings results on Thursday, April 30th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.08. The business had revenue of $308.76 million during the quarter, compared to the consensus estimate of $307.75 million. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.57 EPS. As a group, research analysts predict that Grand Canyon Education, Inc. will post 10.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial set a $100.00 target price on shares of Grand Canyon Education in a report on Tuesday, June 9th. BMO Capital Markets dropped their price target on shares of Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating for the company in a research note on Monday, July 6th. Weiss Ratings lowered Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $230.00 price objective on shares of Grand Canyon Education in a research report on Thursday, April 16th. Three 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, Grand Canyon Education currently has a consensus rating of "Moderate Buy" and a consensus price target of $171.67.

Grand Canyon Education Company 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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