Tidal Investments LLC Has $1.83 Million Holdings in Grand Canyon Education, Inc. $LOPE

Key Points

• Tidal Investments increased its Grand Canyon Education stake by 353% in the second quarter, bringing its holdings to 12,778 shares valued at approximately $1.83 million. Institutional investors collectively own 94.17% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $161.67, despite some recent target reductions and rating downgrades to “Hold.”
• Grand Canyon Education exceeded quarterly expectations, reporting $1.81 in EPS and $264.05 million in revenue, with revenue up 6.7% year over year.

Tidal Investments LLC boosted its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 353.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,778 shares of the company's stock after purchasing an additional 9,957 shares during the quarter. Tidal Investments LLC's holdings in Grand Canyon Education were worth $1,829,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LOPE. Engineers Gate Manager LP grew its position in shares of Grand Canyon Education by 37.7% during the 2nd quarter. Engineers Gate Manager LP now owns 46,565 shares of the company's stock worth $6,664,000 after buying an additional 12,744 shares during the period. Squarepoint Ops LLC raised its position in shares of Grand Canyon Education by 330.8% in the 2nd quarter. Squarepoint Ops LLC now owns 8,314 shares of the company's stock valued at $1,190,000 after acquiring an additional 6,384 shares during the period. Nykredit A S acquired a new stake in shares of Grand Canyon Education in the 2nd quarter valued at approximately $333,000. Amundi raised its position in shares of Grand Canyon Education by 12.5% in the 2nd quarter. Amundi now owns 94,133 shares of the company's stock valued at $13,471,000 after acquiring an additional 10,441 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Grand Canyon Education during the 2nd quarter worth approximately $1,628,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LOPE. Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a report on Tuesday, June 9th. BMO Capital Markets cut their target price on shares of Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Weiss Ratings cut shares of Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. Wall Street Zen lowered shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Finally, Barrington Research set a $200.00 price objective on shares of Grand Canyon Education in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Grand Canyon Education currently has a consensus rating of "Moderate Buy" and an average price target of $161.67.

Grand Canyon Education Stock Performance

Shares of LOPE stock opened at $152.41 on Friday. Grand Canyon Education, Inc. has a 52 week low of $134.27 and a 52 week high of $223.04. The company's 50 day moving average price is $147.97 and its two-hundred day moving average price is $155.51. The company has a market capitalization of $3.97 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.00 and a beta of 0.58.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.14. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The company had revenue of $264.05 million during the quarter, compared to analysts' expectations of $261.87 million. During the same quarter in the prior year, the company earned $1.53 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. Analysts forecast that Grand Canyon Education, Inc. will post 10.22 earnings per share for the current year.

About Grand Canyon Education

Grand Canyon Education, Inc is an education services company that provides technology, operational and support solutions to colleges and universities. Its services are designed to help partner institutions deliver traditional, online and hybrid academic programs while managing student recruitment, enrollment and ongoing support.

The company's offerings include learning-management and information-technology systems, marketing and student outreach, academic counseling, finance and accounting support, faculty and curriculum services, and data analytics.

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