Driehaus Capital Management LLC Invests $15.80 Million in Grand Canyon Education, Inc. $LOPE

Key Points

• Driehaus Capital Management LLC invested approximately $15.80 million in Grand Canyon Education, acquiring 91,293 shares during the first quarter.
• Institutional investors now own 94.17% of Grand Canyon Education's stock, with other large investors also increasing their stakes significantly.
• Analyst ratings for Grand Canyon Education have improved, with a consensus rating of "Buy" and an average target price of $203.67.

Driehaus Capital Management LLC bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 91,293 shares of the company's stock, valued at approximately $15,796,000. Driehaus Capital Management LLC owned 0.32% of Grand Canyon Education at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LOPE. Burgundy Asset Management Ltd. raised its position in Grand Canyon Education by 6.9% in the 1st quarter. Burgundy Asset Management Ltd. now owns 946,152 shares of the company's stock valued at $163,703,000 after purchasing an additional 61,034 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Grand Canyon Education by 79.7% during the first quarter. Allianz Asset Management GmbH now owns 386,244 shares of the company's stock worth $66,828,000 after acquiring an additional 171,261 shares during the last quarter. Northern Trust Corp raised its position in shares of Grand Canyon Education by 8.1% during the first quarter. Northern Trust Corp now owns 370,875 shares of the company's stock worth $64,169,000 after acquiring an additional 27,714 shares during the last quarter. Reinhart Partners LLC. raised its position in shares of Grand Canyon Education by 10.7% during the first quarter. Reinhart Partners LLC. now owns 366,392 shares of the company's stock worth $63,393,000 after acquiring an additional 35,446 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Grand Canyon Education by 3.8% during the first quarter. Los Angeles Capital Management LLC now owns 360,825 shares of the company's stock worth $62,430,000 after acquiring an additional 13,347 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Grand Canyon Education Stock Up 0.7%

Shares of Grand Canyon Education stock traded up $1.35 during trading on Thursday, reaching $206.89. 39,284 shares of the company were exchanged, compared to its average volume of 219,089. Grand Canyon Education, Inc. has a twelve month low of $130.69 and a twelve month high of $207.22. The business has a 50-day moving average price of $185.13 and a 200-day moving average price of $182.79. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.48 and a beta of 0.80.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted 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 firm had revenue of $247.50 million during the quarter, compared to analysts' expectations of $240.90 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Grand Canyon Education, Inc. will post 8.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LOPE. Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. BMO Capital Markets dropped their target price on 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. Finally, Barrington Research restated an "outperform" rating and set a $215.00 target price on shares of Grand Canyon Education in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $203.67.

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.