Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Bought by Summit Global Investments

Summit Global Investments boosted its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 25.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,730 shares of the company's stock after buying an additional 1,751 shares during the period. Summit Global Investments' holdings in Grand Canyon Education were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LOPE. Counterpoint Mutual Funds LLC acquired a new position in shares of Grand Canyon Education in the fourth quarter valued at about $421,000. QRG Capital Management Inc. acquired a new position in shares of Grand Canyon Education in the fourth quarter valued at about $255,000. Postrock Partners LLC acquired a new position in shares of Grand Canyon Education in the fourth quarter valued at about $1,715,000. JPMorgan Chase & Co. increased its holdings in shares of Grand Canyon Education by 5.7% in the fourth quarter. JPMorgan Chase & Co. now owns 167,206 shares of the company's stock valued at $27,388,000 after purchasing an additional 9,083 shares during the period. Finally, Summit Trail Advisors LLC acquired a new position in shares of Grand Canyon Education in the fourth quarter valued at about $280,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on Grand Canyon Education from $208.00 to $222.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Wall Street Zen lowered Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Barrington Research increased their price objective on Grand Canyon Education from $205.00 to $215.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th.

Grand Canyon Education Stock Performance

Grand Canyon Education stock traded up $2.13 during midday trading on Friday, hitting $197.49. 192,760 shares of the company were exchanged, compared to its average volume of 179,635. The firm has a market capitalization of $5.60 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 1.42 and a beta of 0.80. Grand Canyon Education, Inc. has a fifty-two week low of $130.69 and a fifty-two week high of $202.28. The business has a fifty day simple moving average of $182.31 and a two-hundred day simple moving average of $174.47.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.51 by $0.06. The firm had revenue of $289.31 million for the quarter, compared to analyst estimates of $287.18 million. Grand Canyon Education had a return on equity of 30.67% and a net margin of 21.90%. Grand Canyon Education's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. As a group, equities analysts expect 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.