Freestone Grove Partners LP Invests $1.16 Million in Grand Canyon Education, Inc. $LOPE

Key Points

• Freestone Grove Partners acquired 8,081 shares of Grand Canyon Education worth approximately $1.16 million during the second quarter. Institutional investors collectively own 94.17% of the company.
• Grand Canyon Education reported quarterly earnings of $1.81 per share, exceeding estimates of $1.67, while revenue rose 6.7% year over year to $264.05 million.
• The stock opened at $151.19, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $161.67; three analysts rate it Buy and two rate it Hold.

Freestone Grove Partners LP acquired a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,081 shares of the company's stock, valued at approximately $1,156,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Grand Canyon Education in the 4th quarter valued at $25,000. Larson Financial Group LLC raised its holdings 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 buying an additional 65 shares in the last quarter. Toronto Dominion Bank bought a new stake in shares of Grand Canyon Education during the 4th quarter worth $26,000. Financial Life Planners bought a new stake in shares of Grand Canyon Education during the 1st quarter worth $33,000. Finally, Leonteq Securities AG boosted its stake in Grand Canyon Education by 48.9% in the first quarter. Leonteq Securities AG now owns 195 shares of the company's stock valued at $33,000 after buying an additional 64 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Grand Canyon Education Stock Up 0.7%

NASDAQ LOPE opened at $151.19 on Friday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. Grand Canyon Education, Inc. has a twelve month low of $134.27 and a twelve month high of $223.04. The business's fifty day moving average is $146.78 and its 200 day moving average is $156.39.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released 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. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The company had revenue of $264.05 million for the quarter, compared to analysts' expectations of $261.87 million. During the same period in the previous year, the business posted $1.53 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on LOPE. Barrington Research set a $200.00 target price on Grand Canyon Education in a research report on Friday, July 31st. BMO Capital Markets dropped their target price on shares of Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating for the company in a report on Monday, July 6th. Weiss Ratings downgraded shares of Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 25th. Truist Financial set a $100.00 price target on shares of Grand Canyon Education in a 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 report on Sunday, August 9th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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