Burgundy Asset Management Ltd. Purchases 61,034 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Burgundy Asset Management Ltd. increased its holdings in Grand Canyon Education (NASDAQ: LOPE) by 6.9%, owning 946,152 shares after acquiring an additional 61,034 shares in the first quarter.
• Grand Canyon Education reported earnings of $1.53 per share, exceeding analyst expectations of $1.37, with a revenue of $247.50 million for the quarter, up 8.8% year-over-year.
• Analysts have mixed views on the stock, with Barrington Research maintaining an "outperform" rating and a target price of $215, while BMO Capital Markets lowered its price objective from $222 to $210.

Burgundy Asset Management Ltd. grew its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 946,152 shares of the company's stock after purchasing an additional 61,034 shares during the period. Grand Canyon Education comprises about 1.7% of Burgundy Asset Management Ltd.'s portfolio, making the stock its 21st largest position. Burgundy Asset Management Ltd. owned approximately 3.33% of Grand Canyon Education worth $163,703,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LOPE. Sterling Capital Management LLC increased its position in shares of Grand Canyon Education by 44.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,341 shares of the company's stock worth $220,000 after acquiring an additional 414 shares in the last quarter. Barclays PLC increased its position in shares of Grand Canyon Education by 152.3% during the fourth quarter. Barclays PLC now owns 47,877 shares of the company's stock worth $7,842,000 after acquiring an additional 28,900 shares in the last quarter. GeoWealth Management LLC bought a new stake in shares of Grand Canyon Education during the fourth quarter worth $25,000. First Trust Advisors LP increased its position in shares of Grand Canyon Education by 5.0% during the fourth quarter. First Trust Advisors LP now owns 126,950 shares of the company's stock worth $20,794,000 after acquiring an additional 6,092 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Grand Canyon Education during the fourth quarter worth $4,180,000. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of 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. Barrington Research reissued an "outperform" rating and set a $215.00 price objective on shares of Grand Canyon Education in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grand Canyon Education has an average rating of "Buy" and an average price target of $203.67.

Grand Canyon Education Stock Performance

Grand Canyon Education stock traded down $0.99 during mid-day trading on Friday, reaching $204.24. The company's stock had a trading volume of 116,202 shares, compared to its average volume of 219,186. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.48 and a beta of 0.79. Grand Canyon Education, Inc. has a 12 month low of $130.69 and a 12 month high of $207.12. The business's 50 day simple moving average is $182.37 and its 200 day simple moving average is $181.47.

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

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.