The Manufacturers Life Insurance Company Makes New Investment in Grand Canyon Education, Inc. $LOPE

Key Points

• The Manufacturers Life Insurance Company initiated a 18,472-share position in Grand Canyon Education valued at approximately $2.64 million. Institutional investors collectively own 94.17% of the company.
• Analysts maintain a “Moderate Buy” consensus on LOPE, with an average price target of $161.67; ratings include three Buys and two Holds.
• Grand Canyon Education exceeded quarterly expectations, reporting EPS of $1.81 versus the $1.67 estimate and revenue of $264.05 million, up 6.7% year over year.

The Manufacturers Life Insurance Company purchased a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,472 shares of the company's stock, valued at approximately $2,644,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Grand Canyon Education as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Grand Canyon Education during the 2nd quarter worth $397,654,000. William Blair Investment Management LLC acquired a new position in Grand Canyon Education in the 2nd quarter worth about $148,667,000. Reinhart Partners LLC. raised its position in Grand Canyon Education by 36.9% in the second quarter. Reinhart Partners LLC. now owns 882,927 shares of the company's stock valued at $126,358,000 after purchasing an additional 237,939 shares during the last quarter. GW&K Investment Management LLC raised its position in Grand Canyon Education by 15.6% in the fourth quarter. GW&K Investment Management LLC now owns 736,524 shares of the company's stock valued at $122,493,000 after purchasing an additional 99,320 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Grand Canyon Education by 30.9% during the fourth quarter. AQR Capital Management LLC now owns 649,269 shares of the company's stock valued at $107,980,000 after purchasing an additional 153,189 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Grand Canyon Education Trading Down 0.3%

Shares of LOPE stock opened at $149.59 on Thursday. Grand Canyon Education, Inc. has a 1-year low of $134.27 and a 1-year high of $223.04. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.98 and a beta of 0.58. The stock has a 50-day moving average of $147.14 and a 200-day moving average of $156.03.

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