Burgundy Asset Management Ltd. Buys 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 stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 946,152 shares of the company's stock after buying an additional 61,034 shares during the period. Grand Canyon Education makes up 1.7% of Burgundy Asset Management Ltd.'s portfolio, making the stock its 21st biggest position. Burgundy Asset Management Ltd. owned approximately 3.33% of Grand Canyon Education worth $163,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOPE. Sterling Capital Management LLC boosted its holdings in 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 buying an additional 414 shares during the last quarter. Barclays PLC boosted its holdings in 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 buying an additional 28,900 shares during the last quarter. GeoWealth Management LLC bought a new position in Grand Canyon Education during the fourth quarter worth about $25,000. First Trust Advisors LP boosted its holdings in 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 buying an additional 6,092 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in Grand Canyon Education during the fourth quarter worth about $4,180,000. Institutional investors own 94.17% of the company's stock.

Wall Street Analyst Weigh In

LOPE has been the topic of several recent analyst reports. Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. BMO Capital Markets cut their price objective on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a report on Monday, July 7th. Finally, Barrington Research reiterated an "outperform" rating and set a $215.00 price objective on shares of Grand Canyon Education in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $203.67.

Grand Canyon Education Stock Performance

Grand Canyon Education stock traded up $3.62 during midday trading on Tuesday, reaching $202.97. The stock had a trading volume of 241,785 shares, compared to its average volume of 327,555. The firm's fifty day simple moving average is $181.59 and its 200-day simple moving average is $181.13. Grand Canyon Education, Inc. has a 1-year low of $130.69 and a 1-year high of $203.18. The stock has a market capitalization of $5.70 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.47 and a beta of 0.79.

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

Grand Canyon Education Company 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.