NewEdge Wealth LLC Makes New $1.87 Million Investment in Grand Canyon Education, Inc. $LOPE

Key Points

• NewEdge Wealth LLC acquired 13,078 shares of Grand Canyon Education worth approximately $1.87 million, while institutional investors collectively owned 94.17% of the company at the end of the quarter.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $161.67, though some firms recently downgraded or lowered their targets.
• Grand Canyon Education exceeded quarterly expectations, reporting $1.81 in EPS and $264.05 million in revenue; revenue rose 6.7% year over year, while shares recently traded near $146.27.

NewEdge Wealth LLC purchased a new stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,078 shares of the company's stock, valued at approximately $1,872,000. NewEdge Wealth LLC owned approximately 0.05% of Grand Canyon Education at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Empirical Asset Management LLC purchased a new position in Grand Canyon Education during the 2nd quarter worth approximately $795,000. BlackRock Inc. purchased a new position in Grand Canyon Education in the second quarter valued at $397,654,000. Deutsche Bank AG purchased a new position in shares of Grand Canyon Education in the 2nd quarter valued at about $7,638,000. Crown Advisors Management Inc. acquired a new position in Grand Canyon Education in the 2nd quarter worth about $5,009,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Grand Canyon Education during the 2nd quarter worth approximately $82,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barrington Research set a $200.00 price target on shares of Grand Canyon Education in a research report on Friday, July 31st. Wall Street Zen downgraded Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Truist Financial set a $100.00 target price on shares of Grand Canyon Education in a research note on Tuesday, June 9th. BMO Capital Markets reduced their price target on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Finally, Weiss Ratings cut Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 25th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $161.67.

Grand Canyon Education Trading Down 0.4%

Shares of NASDAQ:LOPE opened at $146.27 on Friday. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.96 and a beta of 0.57. Grand Canyon Education, Inc. has a 12-month low of $134.27 and a 12-month high of $223.04. The business has a 50-day moving average price of $146.11 and a 200 day moving average price of $157.14.

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