Grand Canyon Education, Inc. $LOPE Shares Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC reduced its stake in Grand Canyon Education, Inc. by 23.0% in the second quarter, now holding 282,281 shares valued at approximately $53.35 million.
• Multiple institutional investors, including Pallas Capital Advisors and Migdal Insurance, adjusted their positions in Grand Canyon Education, with a total of 94.17% of the stock owned by institutional investors.
• Grand Canyon Education reported a quarterly earnings per share of $1.53, exceeding expectations and showing an 8.8% year-over-year revenue growth.

Reinhart Partners LLC. trimmed its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 23.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,281 shares of the company's stock after selling 84,111 shares during the period. Grand Canyon Education makes up 1.8% of Reinhart Partners LLC.'s portfolio, making the stock its 29th biggest holding. Reinhart Partners LLC. owned approximately 0.99% of Grand Canyon Education worth $53,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOPE. SVB Wealth LLC acquired a new stake in shares of Grand Canyon Education in the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Grand Canyon Education in the first quarter valued at approximately $35,000. WPG Advisers LLC bought a new position in Grand Canyon Education during the 1st quarter worth about $44,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Grand Canyon Education by 58.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after purchasing an additional 96 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Grand Canyon Education by 107.8% in the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock valued at $55,000 after purchasing an additional 165 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Grand Canyon Education Price Performance

Shares of LOPE traded up $0.65 during mid-day trading on Friday, hitting $209.82. The stock had a trading volume of 594,668 shares, compared to its average volume of 201,531. The business has a fifty day moving average price of $191.09 and a 200-day moving average price of $184.92. The firm has a market cap of $5.89 billion, a P/E ratio of 25.40, a PEG ratio of 1.54 and a beta of 0.80. Grand Canyon Education, Inc. has a 52 week low of $130.69 and a 52 week high of $211.31.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its quarterly 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. The firm had revenue of $247.50 million for the quarter, compared to analysts' expectations of $240.90 million. Grand Canyon Education had a return on equity of 31.50% and a net margin of 22.15%.The company's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. As a group, research analysts expect that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LOPE has been the subject of several research reports. BMO Capital Markets cut their price target on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a report on Monday, July 7th. Wall Street Zen raised Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Barrington Research restated an "outperform" rating and issued a $215.00 target price on shares of Grand Canyon Education in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grand Canyon Education presently has an average rating of "Buy" and an average price target of $203.67.

Grand Canyon Education Company 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.