Lecap Asset Management Ltd. Has $585,000 Position in Grand Canyon Education, Inc. $LOPE

Key Points

• Lecap Asset Management Ltd. has reduced its position in Grand Canyon Education by 40.5%, now holding 3,097 shares worth approximately $585,000.
• Several institutional investors, including Allianz Asset Management, have recently increased their stakes, showing a high level of institutional ownership at 94.17% of the stock.
• Grand Canyon Education reported $1.53 earnings per share, beating analysts' expectations, with quarterly revenue up 8.8% year-over-year.

Lecap Asset Management Ltd. decreased its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 40.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,097 shares of the company's stock after selling 2,109 shares during the period. Lecap Asset Management Ltd.'s holdings in Grand Canyon Education were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LOPE. Allianz Asset Management GmbH lifted its stake in Grand Canyon Education by 79.7% during the first quarter. Allianz Asset Management GmbH now owns 386,244 shares of the company's stock worth $66,828,000 after purchasing an additional 171,261 shares during the last quarter. Nuveen LLC bought a new stake in shares of Grand Canyon Education during the 1st quarter worth $20,906,000. Pacer Advisors Inc. boosted its stake in Grand Canyon Education by 1,157.5% in the first quarter. Pacer Advisors Inc. now owns 99,440 shares of the company's stock valued at $17,205,000 after buying an additional 91,532 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Grand Canyon Education in the first quarter valued at about $15,796,000. Finally, Foresight Group Ltd Liability Partnership bought a new position in Grand Canyon Education in the first quarter valued at about $14,408,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Stock Performance

LOPE stock opened at $218.37 on Friday. The company has a market capitalization of $6.13 billion, a P/E ratio of 26.44, a PEG ratio of 1.60 and a beta of 0.76. The company has a fifty day moving average price of $199.25 and a 200-day moving average price of $187.74. Grand Canyon Education, Inc. has a 52-week low of $130.69 and a 52-week high of $220.79.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a research note on Monday, July 7th. Barrington Research restated an "outperform" rating and issued a $230.00 target price on shares of Grand Canyon Education in a research report on Tuesday, September 23rd. Finally, Wall Street Zen upgraded shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price 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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