T. Rowe Price Investment Management Inc. Increases Stock Position in Grand Canyon Education, Inc. $LOPE

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Grand Canyon Education, owning 233,991 shares valued at approximately $40.5 million.
• Analysts rate Grand Canyon Education as a "Buy," with an average target price of $203.67, after the company reported stronger-than-expected quarterly earnings.
• The stock has shown volatility with a 52-week range between $130.69 and $207.12, and a market cap of $5.71 billion.

T. Rowe Price Investment Management Inc. lifted its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,991 shares of the company's stock after purchasing an additional 1,600 shares during the period. T. Rowe Price Investment Management Inc. owned 0.82% of Grand Canyon Education worth $40,486,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LOPE. GeoWealth Management LLC purchased a new stake in shares of Grand Canyon Education during the fourth quarter worth about $25,000. First Trust Advisors LP raised its stake in Grand Canyon Education by 5.0% in the fourth quarter. First Trust Advisors LP now owns 126,950 shares of the company's stock worth $20,794,000 after buying an additional 6,092 shares in the last quarter. MetLife Investment Management LLC raised its stake in Grand Canyon Education by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 16,617 shares of the company's stock worth $2,722,000 after buying an additional 1,171 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Grand Canyon Education by 262.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,221 shares of the company's stock worth $855,000 after buying an additional 3,779 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Grand Canyon Education by 1.9% in the fourth quarter. Hsbc Holdings PLC now owns 25,048 shares of the company's stock worth $4,096,000 after buying an additional 462 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LOPE shares. Wall Street Zen raised shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Barrington Research reissued an "outperform" rating and issued a $215.00 price target on shares of Grand Canyon Education in a research note on Thursday, August 7th. Finally, BMO Capital Markets decreased their price target on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research note on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $203.67.

Grand Canyon Education Stock Down 1.0%

Shares of LOPE stock traded down $2.01 during trading hours on Friday, hitting $198.73. 39,455 shares of the company's stock traded hands, compared to its average volume of 218,579. The stock's fifty day simple moving average is $183.99 and its two-hundred day simple moving average is $182.23. Grand Canyon Education, Inc. has a 12-month low of $130.69 and a 12-month high of $207.12. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.50 and a beta of 0.79.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.16. Grand Canyon Education had a net margin of 22.15% and a return on equity of 31.50%. The firm had revenue of $247.50 million during the quarter, compared to analyst estimates of $240.90 million. During the same period last year, the business earned $1.19 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

About Grand Canyon Education

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.