Oppenheimer Asset Management Inc. Buys Shares of 55,759 Grand Canyon Education, Inc. $LOPE

Key Points

• Oppenheimer Asset Management acquired 55,759 shares of Grand Canyon Education in the second quarter, worth approximately $7.98 million and representing about 0.21% of the company. Institutional investors collectively own 94.17% of the stock.
• Analysts maintain a generally positive outlook, with three Buy ratings and two Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $161.67.
• Grand Canyon Education exceeded quarterly expectations, reporting $1.81 in EPS versus $1.67 expected and $264.05 million in revenue. Revenue increased 6.7% year over year, while the stock recently traded at $144.20.

Oppenheimer Asset Management Inc. bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 55,759 shares of the company's stock, valued at approximately $7,980,000. Oppenheimer Asset Management Inc. owned about 0.21% of Grand Canyon Education at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Grand Canyon Education during the 4th quarter worth approximately $25,000. Toronto Dominion Bank purchased a new position in Grand Canyon Education during the fourth quarter worth $26,000. Larson Financial Group LLC lifted its position in shares of Grand Canyon Education by 70.7% in the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company's stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. Leonteq Securities AG boosted its stake in shares of Grand Canyon Education by 48.9% during the first quarter. Leonteq Securities AG now owns 195 shares of the company's stock valued at $33,000 after acquiring an additional 64 shares during the last quarter. Finally, Financial Life Planners acquired a new stake in shares of Grand Canyon Education during the first quarter valued at $33,000. Hedge funds and other institutional investors own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

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

Grand Canyon Education Price Performance

Grand Canyon Education stock opened at $144.20 on Friday. The stock's 50-day moving average is $146.49 and its 200-day moving average is $158.07. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.95 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.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.14. The business had revenue of $264.05 million during the quarter, compared to analysts' expectations of $261.87 million. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. Research analysts anticipate that Grand Canyon Education, Inc. will post 10.24 EPS for the current year.

About Grand Canyon Education

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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