Canada Pension Plan Investment Board Takes $2.26 Million Position in Grand Canyon Education, Inc. $LOPE

Key Points

• Canada Pension Plan Investment Board acquired 15,800 shares of Grand Canyon Education worth approximately $2.26 million, while institutional investors and hedge funds collectively own 94.17% of the company.
• Grand Canyon Education exceeded quarterly expectations, reporting $1.81 in EPS versus $1.67 expected and $264.05 million in revenue, up 6.7% year over year.
• LOPE shares opened at $151.19, with analysts assigning a “Moderate Buy” consensus rating and an average price target of $161.67; the stock has traded between $134.27 and $223.04 over the past year.

Canada Pension Plan Investment Board acquired a new stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,800 shares of the company's stock, valued at approximately $2,261,000. Canada Pension Plan Investment Board owned about 0.06% of Grand Canyon Education at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in Grand Canyon Education during the 2nd quarter worth approximately $5,481,000. The Manufacturers Life Insurance Company bought a new position in shares of Grand Canyon Education during the second quarter valued at $2,644,000. Algert Global LLC raised its stake in shares of Grand Canyon Education by 46.7% during the second quarter. Algert Global LLC now owns 155,265 shares of the company's stock valued at $22,220,000 after acquiring an additional 49,394 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Grand Canyon Education during the second quarter worth $482,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Grand Canyon Education during the second quarter worth $905,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $151.19 on Monday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 0.98 and a beta of 0.57. Grand Canyon Education, Inc. has a 52-week low of $134.27 and a 52-week high of $223.04. The firm has a 50 day moving average price of $146.78 and a two-hundred day moving average price of $156.31.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.81 EPS 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 company had revenue of $264.05 million for the quarter, compared to analyst estimates of $261.87 million. During the same period in the prior year, the firm posted $1.53 EPS. The company's quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities research analysts predict that Grand Canyon Education, Inc. will post 10.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LOPE has been the topic of several analyst reports. Weiss Ratings cut shares of 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 target price on Grand Canyon Education in a research report on Friday, July 31st. Wall Street Zen downgraded Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. BMO Capital Markets reduced their price target on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a research report on Monday, July 6th. Finally, Truist Financial set a $100.00 price target on Grand Canyon Education in a research note on Tuesday, June 9th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Grand Canyon Education currently has an average rating of "Moderate Buy" and a consensus target price of $161.67.

About Grand Canyon Education

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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