Millennium Management LLC Acquires 16,704 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Millennium Management LLC increased its holdings in Grand Canyon Education by 16.6% in the first quarter, owning a total of 117,569 shares valued at approximately $20.3 million.
• Grand Canyon Education reported a quarterly earnings of $1.53 EPS, surpassing analysts' expectations, with revenues climbing 8.8% year-over-year to $247.5 million.
• Wall Street analysts have largely upgraded Grand Canyon Education, with an average rating of "Buy" and a price target of $203.67, indicating positive future sentiment for the stock.

Millennium Management LLC boosted its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,569 shares of the company's stock after buying an additional 16,704 shares during the period. Millennium Management LLC owned approximately 0.41% of Grand Canyon Education worth $20,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LOPE. SVB Wealth LLC bought a new stake in shares of Grand Canyon Education during the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grand Canyon Education during the first quarter valued at approximately $35,000. WPG Advisers LLC bought a new stake in shares of Grand Canyon Education during the first quarter valued at approximately $44,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Grand Canyon Education by 58.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock valued at $45,000 after buying an additional 96 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Grand Canyon Education by 107.8% in the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock valued at $55,000 after acquiring an additional 165 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Grand Canyon Education Trading Down 1.5%

Shares of NASDAQ LOPE traded down $3.18 during mid-day trading on Monday, reaching $206.48. 156,736 shares of the company's stock were exchanged, compared to its average volume of 211,956. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.54 and a beta of 0.80. The business has a fifty day simple moving average of $188.42 and a 200 day simple moving average of $184.18. Grand Canyon Education, Inc. has a twelve month low of $130.69 and a twelve month high of $211.31.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.16. The company had revenue of $247.50 million for the quarter, compared to analyst estimates 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 revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share. Equities research analysts predict that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Grand Canyon Education

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.