Fifth Third Bancorp Purchases 7,931 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Fifth Third Bancorp increased its stake in Grand Canyon Education by 351.6% in the first quarter, buying 7,931 additional shares and bringing its total holding to 10,187 shares worth about $1.73 million.
• Grand Canyon Education continues to attract heavy institutional interest, with 94.17% of shares owned by institutional investors. Several other funds also added or initiated positions during the period.
• Analysts remain generally positive, with a Moderate Buy consensus and an average price target of $171.67, while the company recently beat quarterly EPS and revenue estimates in its latest earnings report.

Fifth Third Bancorp boosted its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 351.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,187 shares of the company's stock after purchasing an additional 7,931 shares during the quarter. Fifth Third Bancorp's holdings in Grand Canyon Education were worth $1,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Grand Canyon Education during the fourth quarter valued at approximately $25,000. Larson Financial Group LLC lifted its position in Grand Canyon Education by 70.7% in the 4th quarter. Larson Financial Group LLC now owns 157 shares of the company's stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Grand Canyon Education during the 4th quarter valued at $26,000. Financial Life Planners bought a new stake in shares of Grand Canyon Education in the 1st quarter worth $33,000. Finally, Leonteq Securities AG increased its holdings in shares of Grand Canyon Education by 48.9% in the 1st quarter. Leonteq Securities AG now owns 195 shares of the company's stock worth $33,000 after purchasing an additional 64 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on LOPE. Weiss Ratings cut Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. Barrington Research restated an "outperform" rating and set a $230.00 target price on shares of Grand Canyon Education in a research note on Thursday, April 16th. BMO Capital Markets dropped 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. Finally, Truist Financial set a $100.00 price target on shares of Grand Canyon Education in a research note on Tuesday, June 9th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Grand Canyon Education has an average rating of "Moderate Buy" and an average price target of $171.67.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $136.72 on Thursday. The stock has a market cap of $3.62 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 0.92 and a beta of 0.57. Grand Canyon Education, Inc. has a one year low of $134.27 and a one year high of $223.04. The stock has a fifty day moving average of $149.01 and a 200 day moving average of $161.32.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.08. The business had revenue of $308.76 million for the quarter, compared to analysts' expectations of $307.75 million. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $2.57 earnings per share. As a group, sell-side analysts predict that Grand Canyon Education, Inc. will post 10.04 EPS for the current fiscal year.

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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