Man Group plc Invests $3.16 Million in Grand Canyon Education, Inc. $LOPE

Key Points

• Man Group plc bought 22,078 shares of Grand Canyon Education in the second quarter, worth approximately $3.16 million and representing about 0.08% of the company.
• Grand Canyon Education exceeded quarterly expectations, reporting $1.81 EPS versus the $1.67 consensus and $264.05 million in revenue, up 6.7% year over year.
• LOPE shares were trading around $148.13, while analysts maintained a “Moderate Buy” consensus with an average price target of $161.67; institutional investors own 94.17% of the stock.

Man Group plc purchased a new stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,078 shares of the company's stock, valued at approximately $3,160,000. Man Group plc owned approximately 0.08% of Grand Canyon Education as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in LOPE. International Assets Investment Management LLC bought a new position in Grand Canyon Education during the fourth quarter valued at approximately $25,000. Larson Financial Group LLC grew its position in Grand Canyon Education by 70.7% in the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company's stock worth $26,000 after acquiring an additional 65 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Grand Canyon Education during the 4th quarter worth $26,000. Financial Life Planners acquired a new position in shares of Grand Canyon Education during the 1st quarter worth $33,000. Finally, Leonteq Securities AG raised its holdings in shares of Grand Canyon Education by 48.9% during the 1st quarter. Leonteq Securities AG now owns 195 shares of the company's stock valued at $33,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Grand Canyon Education Trading Down 2.0%

Shares of Grand Canyon Education stock opened at $148.13 on Tuesday. The firm has a fifty day simple moving average of $146.90 and a 200-day simple moving average of $156.16. Grand Canyon Education, Inc. has a 1-year low of $134.27 and a 1-year high of $223.04. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 0.98 and a beta of 0.57.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.14. The business had revenue of $264.05 million for the quarter, compared to analyst estimates of $261.87 million. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. Grand Canyon Education's revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $1.53 EPS. As a group, research analysts predict that Grand Canyon Education, Inc. will post 10.24 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on LOPE. Wall Street Zen lowered shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Weiss Ratings downgraded shares of 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 target price on Grand Canyon Education in a report on Tuesday, June 9th. Barrington Research set a $200.00 price target on Grand Canyon Education in a research report on Friday, July 31st. Finally, BMO Capital Markets decreased their price target on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating for the company in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Grand Canyon Education currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.67.

Grand Canyon Education Company 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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