Van Berkom & Associates Inc. Acquires 13,782 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Van Berkom & Associates increased its Grand Canyon Education stake by 2.5%, buying 13,782 shares in the third quarter to own 558,645 shares, worth about $84.7 million.
• Institutional investors own 94.17% of the company’s shares, and analysts have a consensus “Moderate Buy” rating with an average price target of $187.33.
• In its latest quarter, Grand Canyon Education reported earnings of $1.77 per share, slightly above estimates, while revenue of $267.35 million fell short of expectations but rose 2.4% year over year.

Van Berkom & Associates Inc. lifted its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558,645 shares of the company's stock after purchasing an additional 13,782 shares during the period. Grand Canyon Education comprises approximately 3.0% of Van Berkom & Associates Inc.'s holdings, making the stock its 5th biggest holding. Van Berkom & Associates Inc. owned 2.14% of Grand Canyon Education worth $84,685,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LOPE. Fulcrum Asset Management LLP purchased a new stake in Grand Canyon Education in the 3rd quarter valued at approximately $55,000. Legacies Wealth LLC acquired a new stake in Grand Canyon Education during the 3rd quarter valued at $73,000. Persistent Asset Partners Ltd purchased a new position in Grand Canyon Education during the second quarter worth $82,000. Versant Capital Management Inc increased its position in Grand Canyon Education by 71.4% during the third quarter. Versant Capital Management Inc now owns 617 shares of the company's stock worth $94,000 after buying an additional 257 shares in the last quarter. Finally, Covestor Ltd increased its position in Grand Canyon Education by 35.5% during the third quarter. Covestor Ltd now owns 618 shares of the company's stock worth $94,000 after buying an additional 162 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Grand Canyon Education in a report on Tuesday, September 22nd. BMO Capital Markets decreased their price objective on Grand Canyon Education from $185.00 to $182.00 and set an "outperform" rating on the stock in a research note on Monday, October 5th. Wall Street Zen lowered Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Barrington Research set a $200.00 price objective on Grand Canyon Education in a research report on Friday, July 31st. Finally, Truist Financial cut their target price on shares of Grand Canyon Education from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, November 5th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $187.33.

Grand Canyon Education Stock Performance

LOPE opened at $116.16 on Tuesday. The company's 50 day simple moving average is $152.04 and its 200 day simple moving average is $156.28. Grand Canyon Education, Inc. has a 1 year low of $115.00 and a 1 year high of $182.15. The stock has a market capitalization of $3.03 billion, a PE ratio of 15.61, a P/E/G ratio of 0.98 and a beta of 0.66.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $267.35 million during the quarter, compared to analyst estimates of $270.11 million. Grand Canyon Education had a net margin of 21.85% and a return on equity of 36.74%. Grand Canyon Education's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. As a group, sell-side analysts expect that Grand Canyon Education, Inc. will post 10.09 earnings per share for the current fiscal year.

Grand Canyon Education Profile

Grand Canyon Education, Inc is an education services company that provides technology, academic, and operational support to colleges and universities. Its services include online learning platforms, enrollment and student support, curriculum development, marketing, and other administrative functions.

The company's primary relationship is with Grand Canyon University (GCU), a private university based in Phoenix, Arizona. GCE has provided services to GCU under a long-term agreement since the university became a nonprofit institution in 2018.

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