Van Berkom & Associates Inc. Sells 27,817 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Van Berkom & Associates reduced its stake in Grand Canyon Education by 4.5% in the first quarter, selling 27,817 shares and leaving it with 585,558 shares worth about $99.6 million.
• Grand Canyon Education reported better-than-expected quarterly results, with EPS of $2.86 beating estimates and revenue of $308.76 million slightly above forecasts. Revenue rose 6.7% year over year.
• Analyst sentiment remains cautiously positive, with the stock carrying a “Moderate Buy” consensus and an average price target of $171.67, though some firms have recently trimmed targets.

Van Berkom & Associates Inc. lessened its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 585,558 shares of the company's stock after selling 27,817 shares during the quarter. Grand Canyon Education accounts for approximately 3.3% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 6th biggest holding. Van Berkom & Associates Inc. owned 2.21% of Grand Canyon Education worth $99,562,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in Grand Canyon Education during the 4th quarter worth about $25,000. Larson Financial Group LLC grew its holdings in shares of Grand Canyon Education by 70.7% in the 4th quarter. Larson Financial Group LLC now owns 157 shares of the company's stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Grand Canyon Education in the fourth quarter valued at about $26,000. Financial Life Planners acquired a new stake in shares of Grand Canyon Education in the first quarter valued at about $33,000. Finally, Leonteq Securities AG raised its holdings in Grand Canyon Education by 48.9% during the first quarter. Leonteq Securities AG now owns 195 shares of the company's stock worth $33,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Grand Canyon Education Price Performance

Grand Canyon Education stock opened at $140.44 on Monday. The company's 50-day moving average price is $150.40 and its two-hundred day moving average price is $161.92. The stock has a market cap of $3.72 billion, a P/E ratio of 17.55, a P/E/G ratio of 0.93 and a beta of 0.57. Grand Canyon Education, Inc. has a twelve month low of $138.34 and a twelve month high of $223.04.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.08. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.The company had revenue of $308.76 million during the quarter, compared to analysts' expectations of $307.75 million. During the same quarter in the previous year, the company posted $2.57 earnings per share. The business's revenue was up 6.7% on a year-over-year basis. Equities analysts anticipate that Grand Canyon Education, Inc. will post 10.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. BMO Capital Markets reduced their price target on 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. Truist Financial set a $100.00 price target on Grand Canyon Education in a research report on Tuesday, June 9th. Barrington Research reiterated an "outperform" rating and set a $230.00 price objective on shares of Grand Canyon Education in a research note on Thursday, April 16th. Finally, Weiss Ratings downgraded Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Grand Canyon Education currently has an average rating of "Moderate Buy" and an average price target of $171.67.

About Grand Canyon Education

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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