California State Teachers Retirement System Boosts Stock Holdings in Grand Canyon Education, Inc. $LOPE

Key Points

• California State Teachers Retirement System increased its Grand Canyon Education stake by 13,436.9% to 4.48 million shares, representing about 17.19% of the company and valued at approximately $641.1 million.
• Institutional ownership is substantial at 94.17%, with BlackRock and William Blair Investment Management also establishing sizable positions during the second quarter.
• Grand Canyon Education exceeded quarterly earnings expectations, reporting $1.81 EPS versus $1.67 estimated and revenue of $264.05 million, up 6.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $161.67.

California State Teachers Retirement System boosted its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 13,436.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,479,629 shares of the company's stock after buying an additional 4,446,537 shares during the quarter. California State Teachers Retirement System owned approximately 17.19% of Grand Canyon Education worth $641,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Grand Canyon Education in the 2nd quarter worth approximately $397,654,000. William Blair Investment Management LLC bought a new position in shares of Grand Canyon Education in the second quarter worth $148,667,000. Reinhart Partners LLC. grew its position in shares of Grand Canyon Education by 36.9% in the second quarter. Reinhart Partners LLC. now owns 882,927 shares of the company's stock valued at $126,358,000 after purchasing an additional 237,939 shares in the last quarter. GW&K Investment Management LLC grew its position in shares of Grand Canyon Education by 15.6% in the fourth quarter. GW&K Investment Management LLC now owns 736,524 shares of the company's stock valued at $122,493,000 after purchasing an additional 99,320 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Grand Canyon Education by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 578,110 shares of the company's stock valued at $96,163,000 after purchasing an additional 26,593 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on LOPE shares. Weiss Ratings downgraded Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 25th. Barrington Research set a $200.00 price target on Grand Canyon Education in a research report on Friday, July 31st. BMO Capital Markets lowered their price target on shares of Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a research report on Tuesday, June 9th. Finally, Wall Street Zen cut shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $161.67.

Grand Canyon Education Stock Up 1.5%

Shares of NASDAQ LOPE opened at $153.48 on Tuesday. The stock's 50-day simple moving average is $147.86 and its two-hundred day simple moving average is $155.62. Grand Canyon Education, Inc. has a twelve month low of $134.27 and a twelve month high of $223.04. The firm has a market capitalization of $4.00 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.99 and a beta of 0.58.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.14. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The business had revenue of $264.05 million for the quarter, compared to the consensus estimate of $261.87 million. During the same period last year, the firm posted $1.53 earnings per share. Grand Canyon Education's quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts anticipate that Grand Canyon Education, Inc. will post 10.22 EPS for the current fiscal year.

Grand Canyon Education Company Profile

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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