Baird Financial Group Inc. Takes $417,000 Position in Grand Canyon Education, Inc. $LOPE

Key Points

• Baird Financial Group Inc. acquired a new position in Grand Canyon Education, purchasing 2,410 shares valued at approximately $417,000 during the first quarter.
• Other hedge funds have also increased their stakes in Grand Canyon Education, contributing to institutional investors holding 94.17% of the company's stock.
• Grand Canyon Education reported earnings of $1.53 per share for the last quarter, exceeding estimates, with a 22.15% net margin and an 8.8% increase in quarterly revenue year-over-year.

Baird Financial Group Inc. purchased a new position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,410 shares of the company's stock, valued at approximately $417,000.

A number of other hedge funds have also recently modified their holdings of LOPE. SVB Wealth LLC purchased a new stake in shares of Grand Canyon Education during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Grand Canyon Education during the 1st quarter valued at about $35,000. WPG Advisers LLC bought a new position in Grand Canyon Education during the 1st quarter valued at approximately $44,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Grand Canyon Education by 58.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock valued at $45,000 after purchasing an additional 96 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Grand Canyon Education by 107.8% during the 1st quarter. UMB Bank n.a. now owns 318 shares of the company's stock valued at $55,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Grand Canyon Education Trading Down 1.4%

NASDAQ:LOPE opened at $202.49 on Thursday. The company has a 50-day moving average price of $186.84 and a 200-day moving average price of $183.48. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.51 and a beta of 0.80. Grand Canyon Education, Inc. has a 12 month low of $130.69 and a 12 month high of $207.22.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on LOPE. BMO Capital Markets lowered their price target on 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. Wall Street Zen raised Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $215.00 price target on shares of Grand Canyon Education in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $203.67.

Grand Canyon Education Profile

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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