Grand Canyon Education, Inc. $LOPE Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its Grand Canyon Education stake by 5.4% in the second quarter, selling 1,790 shares and retaining 31,302 shares valued at approximately $4.48 million. Institutional investors collectively own 94.17% of the company.
• Analysts maintain a generally positive outlook, with Grand Canyon Education carrying a “Moderate Buy” consensus rating and an average price target of $161.67, although some firms recently downgraded or lowered their targets.
• The company exceeded quarterly expectations, reporting $1.81 in earnings per share versus the $1.67 estimate and $264.05 million in revenue, up 6.7% year over year. Shares were trading near $153.51, while analysts expect full-year earnings of $10.22 per share.

California State Teachers Retirement System decreased its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,302 shares of the company's stock after selling 1,790 shares during the quarter. California State Teachers Retirement System owned 0.12% of Grand Canyon Education worth $4,479,629 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Grand Canyon Education in the 4th quarter worth $25,000. Larson Financial Group LLC increased its stake in shares of Grand Canyon Education by 70.7% during the 4th 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. Leonteq Securities AG grew its position in Grand Canyon Education by 48.9% during the first quarter. Leonteq Securities AG now owns 195 shares of the company's stock worth $33,000 after buying an additional 64 shares in the last quarter. Financial Life Planners bought a new stake in Grand Canyon Education in the first quarter valued at approximately $33,000. Finally, Sankala Group LLC bought a new stake in shares of Grand Canyon Education during the 4th quarter valued at $34,000. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings cut Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 25th. Barrington Research set a $200.00 price target on shares of Grand Canyon Education in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a research report on Tuesday, June 9th. Finally, BMO Capital Markets dropped their price objective on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock 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's stock. According to data from MarketBeat, Grand Canyon Education presently has a consensus rating of "Moderate Buy" and an average target price of $161.67.

Grand Canyon Education Stock Up 0.0%

Shares of NASDAQ LOPE traded up $0.03 during midday trading on Tuesday, reaching $153.51. The company had a trading volume of 113,120 shares, compared to its average volume of 308,435. The firm's fifty day moving average price is $147.86 and its 200-day moving average price is $155.62. The stock has a market cap of $4.00 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58. Grand Canyon Education, Inc. has a one year low of $134.27 and a one year 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, topping the consensus estimate 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 firm's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS. As a group, equities research analysts expect that Grand Canyon Education, Inc. will post 10.22 EPS for the current year.

About Grand Canyon Education

Grand Canyon Education, Inc is an education services company that provides technology, operational and support solutions to colleges and universities. Its services are designed to help partner institutions deliver traditional, online and hybrid academic programs while managing student recruitment, enrollment and ongoing support.

The company's offerings include learning-management and information-technology systems, marketing and student outreach, academic counseling, finance and accounting support, faculty and curriculum services, and data analytics.

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