Grand Canyon Education, Inc. $LOPE Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Grand Canyon Education by 1.7%, acquiring a total of 392,672 shares valued at approximately $74.2 million.
• Grand Canyon Education reported a quarterly earnings per share (EPS) of $1.53, exceeding analysts' expectations of $1.37, with revenue reaching $247.5 million.
• Multiple research firms have adjusted their ratings on Grand Canyon Education, with Zacks Research downgrading it to a "hold" while Barrington Research maintains an "outperform" rating and sets a price target of $230.00.

Allianz Asset Management GmbH grew its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 392,672 shares of the company's stock after purchasing an additional 6,428 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.38% of Grand Canyon Education worth $74,215,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LOPE. SVB Wealth LLC acquired a new stake in shares of Grand Canyon Education in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Grand Canyon Education during the first quarter worth about $35,000. WPG Advisers LLC acquired a new stake in Grand Canyon Education during the first quarter worth about $44,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Grand Canyon Education by 58.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after acquiring an additional 96 shares during the period. Finally, IFP Advisors Inc grew its position in Grand Canyon Education by 2,172.7% in the 2nd quarter. IFP Advisors Inc now owns 250 shares of the company's stock worth $47,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Grand Canyon Education Trading Down 1.4%

Shares of NASDAQ:LOPE opened at $208.41 on Friday. The stock has a market capitalization of $5.85 billion, a PE ratio of 25.23, a P/E/G ratio of 1.55 and a beta of 0.76. Grand Canyon Education, Inc. has a 1 year low of $130.69 and a 1 year high of $220.79. The firm has a fifty day moving average price of $207.06 and a 200 day moving average price of $190.41.

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

Analysts Set New Price Targets

Several research firms have commented on LOPE. Zacks Research cut shares of Grand Canyon Education from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. BMO Capital Markets decreased their price objective on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a report on Monday, July 7th. Weiss Ratings restated a "buy (b+)" rating on shares of Grand Canyon Education in a report on Tuesday. Wall Street Zen upgraded shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Barrington Research restated an "outperform" rating and issued a $230.00 price target on shares of Grand Canyon Education in a research report on Tuesday, September 23rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $208.67.

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.

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