Reinhart Partners LLC. Grows Stock Position in Grand Canyon Education, Inc. $LOPE

Key Points

• Reinhart Partners increased its Grand Canyon Education position by 36.9% in the second quarter, adding 237,939 shares to own 882,927 shares worth approximately $126.4 million, or 3.33% of LOPE.
• Institutional ownership remains high at 94.17%, with several major investors—including Bank of Montreal, William Blair, UBS and Wasatch Advisors—also increasing their stakes.
• Grand Canyon Education exceeded quarterly expectations, reporting $1.81 EPS versus the $1.67 consensus and $264.05 million in revenue; analysts have a “Moderate Buy” consensus with an average price target of $161.67.

Reinhart Partners LLC. raised its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 36.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 882,927 shares of the company's stock after buying an additional 237,939 shares during the quarter. Grand Canyon Education comprises about 2.9% of Reinhart Partners LLC.'s holdings, making the stock its 12th largest position. Reinhart Partners LLC. owned about 3.33% of Grand Canyon Education worth $126,358,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in Grand Canyon Education by 6,102.7% in the 4th quarter. Bank of Montreal Can now owns 480,460 shares of the company's stock valued at $79,905,000 after acquiring an additional 472,714 shares during the period. Norges Bank purchased a new position in shares of Grand Canyon Education in the fourth quarter worth about $61,919,000. William Blair Investment Management LLC increased its stake in shares of Grand Canyon Education by 281.9% in the fourth quarter. William Blair Investment Management LLC now owns 453,140 shares of the company's stock worth $75,362,000 after purchasing an additional 334,486 shares in the last quarter. UBS Group AG raised its position in shares of Grand Canyon Education by 523.1% in the fourth quarter. UBS Group AG now owns 194,634 shares of the company's stock valued at $32,370,000 after purchasing an additional 163,397 shares during the period. Finally, Wasatch Advisors LP lifted its stake in shares of Grand Canyon Education by 48.0% during the 4th quarter. Wasatch Advisors LP now owns 483,184 shares of the company's stock valued at $80,358,000 after buying an additional 156,777 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on LOPE shares. Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a report on Tuesday, June 9th. Weiss Ratings downgraded Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. BMO Capital Markets cut their price target on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating for the company in a report on Monday, July 6th. Barrington Research set a $200.00 price target on Grand Canyon Education in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded Grand Canyon Education from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $161.67.

Grand Canyon Education Stock Up 2.5%

Shares of NASDAQ LOPE opened at $152.53 on Friday. The firm has a market capitalization of $3.98 billion, a P/E ratio of 18.44, a P/E/G ratio of 0.97 and a beta of 0.57. The stock's 50-day simple moving average is $147.17 and its two-hundred day simple moving average is $159.27. Grand Canyon Education, Inc. has a twelve month low of $134.27 and a twelve month high of $223.04.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.14. The firm had revenue of $264.05 million during the quarter, compared to the consensus estimate 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 last year, the company posted $1.53 EPS. As a group, research analysts anticipate that Grand Canyon Education, Inc. will post 10.24 EPS 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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