Grand Canyon Education, Inc. $LOPE Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Grand Canyon Education stake by 53.7% in the first quarter, selling 13,902 shares and retaining 12,003 shares valued at approximately $2.04 million. Institutional investors collectively own 94.17% of the company.
• Analysts maintain a generally positive outlook, with three Buy ratings and two Holds giving LOPE a “Moderate Buy” consensus rating and an average price target of $171.67.
• Grand Canyon Education beat quarterly expectations, reporting $2.86 in earnings per share and $308.76 million in revenue, while revenue increased 6.7% year over year. Shares opened at $139.94, near the company’s 52-week low of $134.27.

Hsbc Holdings PLC lessened its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 53.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,003 shares of the company's stock after selling 13,902 shares during the quarter. Hsbc Holdings PLC's holdings in Grand Canyon Education were worth $2,041,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Grand Canyon Education during the 4th quarter worth $25,000. Larson Financial Group LLC boosted its stake in Grand Canyon Education by 70.7% in the fourth 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 acquired a new position in Grand Canyon Education in the fourth quarter valued at $26,000. Financial Life Planners acquired a new position in Grand Canyon Education in the first quarter valued at $33,000. Finally, Leonteq Securities AG grew its holdings in shares of Grand Canyon Education by 48.9% during the first quarter. Leonteq Securities AG now owns 195 shares of the company's stock worth $33,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barrington Research reiterated an "outperform" rating and set a $230.00 target price on shares of Grand Canyon Education in a research report on Thursday, April 16th. Weiss Ratings cut Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. Truist Financial set a $100.00 price target on Grand Canyon Education in a research note on Tuesday, June 9th. Finally, BMO Capital Markets cut their price target on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $171.67.

Grand Canyon Education Price Performance

Shares of NASDAQ:LOPE opened at $139.94 on Monday. The stock has a market cap of $3.71 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.93 and a beta of 0.57. The firm has a fifty day moving average price of $148.23 and a 200 day moving average price of $160.92. Grand Canyon Education, Inc. has a 1-year low of $134.27 and a 1-year high of $223.04.

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

Grand Canyon Education Profile

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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