Public Sector Pension Investment Board Purchases Shares of 53,268 Grand Canyon Education, Inc. (NASDAQ:LOPE)

Key Points

• The Public Sector Pension Investment Board acquired a new stake in Grand Canyon Education, purchasing 53,268 shares valued at approximately $9.2 million, bringing its total ownership to about 0.19%.
• Grand Canyon Education reported earnings of $1.53 per share for the last quarter, exceeding analyst expectations and up from $1.19 in the previous year, with revenue increasing 8.8% year-over-year.
• Brokerage firms are optimistic about Grand Canyon Education, with BMO Capital Markets and Barrington Research maintaining an "outperform" rating and setting price targets of $210.00 and $215.00, respectively.

Public Sector Pension Investment Board bought a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,268 shares of the company's stock, valued at approximately $9,216,000. Public Sector Pension Investment Board owned approximately 0.19% of Grand Canyon Education at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC purchased a new stake in shares of Grand Canyon Education during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Grand Canyon Education by 58.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after acquiring an additional 96 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Grand Canyon Education by 107.8% during the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock worth $55,000 after acquiring an additional 165 shares in the last quarter. Cypress Capital Management LLC WY purchased a new stake in shares of Grand Canyon Education during the first quarter worth $65,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Grand Canyon Education during the first quarter worth $75,000. Hedge funds and other institutional investors own 94.17% of the company's stock.

Grand Canyon Education Stock Up 0.8%

Shares of LOPE stock traded up $1.54 on Friday, reaching $197.64. The company's stock had a trading volume of 178,077 shares, compared to its average volume of 328,068. Grand Canyon Education, Inc. has a 12-month low of $130.69 and a 12-month high of $202.28. The company has a market capitalization of $5.55 billion, a P/E ratio of 23.93, a PEG ratio of 1.45 and a beta of 0.79. The stock's 50 day simple moving average is $180.92 and its 200-day simple moving average is $180.77.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $247.50 million for the quarter, compared to the consensus estimate of $240.90 million. During the same quarter last year, the business posted $1.19 earnings per share. The firm's revenue was up 8.8% compared to the same quarter last year. Research analysts expect that Grand Canyon Education, Inc. will post 8.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LOPE shares. Barrington Research restated an "outperform" rating and set a $215.00 target price on shares of Grand Canyon Education in a research report on Thursday, August 7th. BMO Capital Markets dropped their target price 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. Finally, Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

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.