Nuveen LLC Invests $20.91 Million in Grand Canyon Education, Inc. $LOPE

Key Points

• Nuveen LLC acquired a new stake in Grand Canyon Education, purchasing 120,829 shares worth approximately $20.91 million, which represents 0.43% of the company's total shares.
• Grand Canyon Education reported a strong quarterly performance with an earnings per share of $1.53, exceeding expectations and reflecting an 8.8% revenue increase compared to the same period last year.
• Institutional investors hold a significant portion of Grand Canyon Education's stock, with 94.17% of shares owned by hedge funds and other institutional entities.

Nuveen LLC purchased a new stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 120,829 shares of the company's stock, valued at approximately $20,906,000. Nuveen LLC owned about 0.43% of Grand Canyon Education as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. boosted its holdings in Grand Canyon Education by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 885,118 shares of the company's stock valued at $144,982,000 after acquiring an additional 14,667 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Grand Canyon Education by 79.7% in the first quarter. Allianz Asset Management GmbH now owns 386,244 shares of the company's stock valued at $66,828,000 after acquiring an additional 171,261 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in Grand Canyon Education by 10.7% in the first quarter. Reinhart Partners LLC. now owns 366,392 shares of the company's stock valued at $63,393,000 after acquiring an additional 35,446 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Grand Canyon Education by 3.8% in the first quarter. Los Angeles Capital Management LLC now owns 360,825 shares of the company's stock valued at $62,430,000 after acquiring an additional 13,347 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in Grand Canyon Education in the fourth quarter valued at about $38,066,000. Institutional investors own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

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

Grand Canyon Education Stock Performance

NASDAQ:LOPE traded down $0.32 during mid-day trading on Monday, hitting $203.07. The company had a trading volume of 194,389 shares, compared to its average volume of 327,301. Grand Canyon Education, Inc. has a fifty-two week low of $130.69 and a fifty-two week high of $207.12. The business's fifty day moving average is $183.07 and its two-hundred day moving average is $181.80. The firm has a market cap of $5.70 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.49 and a beta of 0.79.

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

Grand Canyon Education 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.