Bank of Nova Scotia Buys New Stake in Grand Canyon Education, Inc. $LOPE

Key Points

• Bank of Nova Scotia acquired 36,300 shares of Grand Canyon Education, valued at approximately $5.2 million, representing about 0.14% of the company. Institutional investors collectively own 94.17% of LOPE.
• Analysts maintain a generally positive outlook, with three Buy ratings and two Holds. The stock has a “Moderate Buy” consensus rating and an average price target of $161.67.
• Grand Canyon Education reported quarterly EPS of $1.81, exceeding estimates of $1.67, while revenue rose 6.7% year over year to $264.05 million. Shares opened at $149.08, near their 50-day moving average of $146.30.

Bank of Nova Scotia bought a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 36,300 shares of the company's stock, valued at approximately $5,195,000. Bank of Nova Scotia owned about 0.14% of Grand Canyon Education as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Grand Canyon Education in the 2nd quarter valued at about $397,654,000. William Blair Investment Management LLC acquired a new position in shares of Grand Canyon Education in the second quarter valued at approximately $148,667,000. Bank of Montreal Can lifted its stake in shares of Grand Canyon Education by 6,102.7% during the fourth quarter. Bank of Montreal Can now owns 480,460 shares of the company's stock valued at $79,905,000 after buying an additional 472,714 shares during the period. Norges Bank purchased a new position in shares of Grand Canyon Education during the fourth quarter valued at approximately $61,919,000. Finally, Reinhart Partners LLC. boosted its position in Grand Canyon Education by 135.3% during the fourth quarter. Reinhart Partners LLC. now owns 518,914 shares of the company's stock worth $86,303,000 after acquiring an additional 298,409 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analyst Ratings Changes

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

Grand Canyon Education Stock Up 1.0%

Shares of LOPE opened at $149.08 on Wednesday. Grand Canyon Education, Inc. has a fifty-two week low of $134.27 and a fifty-two week high of $223.04. The company's fifty day moving average is $146.30 and its two-hundred day moving average is $156.70. The firm has a market cap of $3.89 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 0.96 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.14. The business had revenue of $264.05 million during 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 business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 EPS. As a group, equities research analysts anticipate that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current year.

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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