Grand Canyon Education, Inc. $LOPE Shares Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Grand Canyon Education, acquiring 44,922 additional shares, bringing its total holdings to 53,448 shares.
• Grand Canyon Education reported a strong quarterly earnings performance, achieving $1.53 EPS against an estimate of $1.37, with an 8.8% increase in revenue year-over-year.
• Research analysts have upgraded the company's stock ratings, with a consensus "Buy" recommendation and an average price target of $203.67.

Cubist Systematic Strategies LLC boosted its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 526.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,448 shares of the company's stock after acquiring an additional 44,922 shares during the period. Cubist Systematic Strategies LLC owned 0.19% of Grand Canyon Education worth $9,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in Grand Canyon Education in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Grand Canyon Education during the 1st quarter worth about $35,000. WPG Advisers LLC acquired a new stake in shares of Grand Canyon Education during the 1st quarter worth about $44,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Grand Canyon Education by 58.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after purchasing an additional 96 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Grand Canyon Education by 107.8% during the 1st quarter. UMB Bank n.a. now owns 318 shares of the company's stock worth $55,000 after purchasing an additional 165 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Price Performance

Shares of LOPE stock opened at $201.57 on Tuesday. The firm has a market cap of $5.66 billion, a P/E ratio of 24.40, a PEG ratio of 1.48 and a beta of 0.80. Grand Canyon Education, Inc. has a 1-year low of $130.69 and a 1-year high of $207.12. The firm's 50-day simple moving average is $184.45 and its 200-day simple moving average is $182.49.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 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 for the quarter, compared to analyst estimates of $240.90 million. During the same quarter last year, the firm posted $1.19 earnings per share. Grand Canyon Education's revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts expect that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. BMO Capital Markets cut their price target on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a report on Monday, July 7th. Finally, Barrington Research reiterated an "outperform" rating and set a $215.00 price objective on shares of Grand Canyon Education in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Grand Canyon Education has a consensus rating of "Buy" and an average target price of $203.67.

Grand Canyon Education 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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