Assenagon Asset Management S.A. Boosts Holdings in Grand Canyon Education, Inc. $LOPE

Key Points

• Assenagon Asset Management increased its Grand Canyon Education stake by 178.6% in the second quarter, ending with 51,748 shares valued at approximately $7.4 million. Institutional investors collectively own 94.17% of the company.
• Grand Canyon Education shares opened at $144.38, down 1.4%, and remain below their 50-day and 200-day moving averages. The stock has traded between $134.27 and $223.04 over the past year.
• The company exceeded quarterly expectations, reporting $1.81 in earnings per share and $264.05 million in revenue, with revenue up 6.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $161.67.

Assenagon Asset Management S.A. grew its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 178.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,748 shares of the company's stock after acquiring an additional 33,173 shares during the quarter. Assenagon Asset Management S.A. owned about 0.20% of Grand Canyon Education worth $7,406,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. GW&K Investment Management LLC increased its position in Grand Canyon Education by 15.6% during the fourth quarter. GW&K Investment Management LLC now owns 736,524 shares of the company's stock worth $122,493,000 after purchasing an additional 99,320 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Grand Canyon Education by 30.9% in the 4th quarter. AQR Capital Management LLC now owns 649,269 shares of the company's stock valued at $107,980,000 after purchasing an additional 153,189 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Grand Canyon Education by 17.2% during the 4th quarter. Van Berkom & Associates Inc. now owns 613,375 shares of the company's stock valued at $102,010,000 after buying an additional 90,070 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $96,163,000 after buying an additional 26,593 shares during the period. Finally, Reinhart Partners LLC. increased its holdings in shares of Grand Canyon Education by 135.3% during the 4th quarter. Reinhart Partners LLC. now owns 518,914 shares of the company's stock worth $86,303,000 after buying an additional 298,409 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Grand Canyon Education Trading Down 1.4%

Shares of Grand Canyon Education stock opened at $144.38 on Wednesday. Grand Canyon Education, Inc. has a twelve month low of $134.27 and a twelve month high of $223.04. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 0.95 and a beta of 0.57. The company has a fifty day moving average price of $146.90 and a 200 day moving average price of $158.66.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.67 by $0.14. The business had revenue of $264.05 million for the quarter, compared to the consensus estimate of $261.87 million. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The company's revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.53 EPS. Analysts forecast that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial set a $100.00 target price on Grand Canyon Education in a research report on Tuesday, June 9th. Barrington Research set a $200.00 price target on Grand Canyon Education in a research report 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. Wall Street Zen downgraded Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Sunday. Finally, BMO Capital Markets reduced their price objective on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.67.

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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