Bank of New York Mellon Corp Invests $23.68 Million in Grand Canyon Education, Inc. $LOPE

Key Points

• Bank of New York Mellon acquired 165,445 shares of Grand Canyon Education worth approximately $23.68 million, representing a 0.63% stake. Institutional investors collectively own 94.17% of the company.
• Grand Canyon Education reported quarterly EPS of $1.81, surpassing estimates of $1.67, while revenue rose 6.7% year over year to $264.05 million.
• LOPE has a “Moderate Buy” consensus rating from analysts, with an average price target of $161.67; shares recently opened at $151.19.

Bank of New York Mellon Corp acquired a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 165,445 shares of the company's stock, valued at approximately $23,677,000. Bank of New York Mellon Corp owned 0.63% of Grand Canyon Education at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Grand Canyon Education during the 4th quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in shares of Grand Canyon Education by 70.7% during the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company's stock worth $26,000 after purchasing an additional 65 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Grand Canyon Education during the fourth quarter worth $26,000. Financial Life Planners purchased a new stake in shares of Grand Canyon Education during the first quarter valued at $33,000. Finally, Leonteq Securities AG boosted its stake in shares of Grand Canyon Education by 48.9% during the first quarter. Leonteq Securities AG now owns 195 shares of the company's stock valued at $33,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Grand Canyon Education Price Performance

LOPE stock opened at $151.19 on Monday. The firm has a 50 day moving average of $146.78 and a 200 day moving average of $156.31. The stock has a market capitalization of $3.94 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. Grand Canyon Education, Inc. has a 52 week low of $134.27 and a 52 week high of $223.04.

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 for the quarter, beating the consensus estimate of $1.67 by $0.14. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The business had revenue of $264.05 million for the quarter, compared to the consensus estimate of $261.87 million. During the same quarter in the previous year, the business earned $1.53 EPS. The company's quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on LOPE shares. Wall Street Zen lowered shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Barrington Research set a $200.00 target price on shares of Grand Canyon Education in a research report on Friday, July 31st. Truist Financial set a $100.00 price target on shares of Grand Canyon Education in a report on Tuesday, June 9th. Weiss Ratings cut shares of Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. Finally, BMO Capital Markets reduced their price objective 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. Three 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 a consensus price target of $161.67.

About Grand Canyon Education

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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