Vanguard Group Inc. Decreases Holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Key Points

• Vanguard Group Inc. reduced its stake in Grand Canyon Education by 2.8%, now holding approximately 10.00% of the company, valued at $491.65 million.
• Multiple hedge funds, such as OneDigital and Bessemer Group, have made significant investments or changes in their positions in Grand Canyon Education during the first quarter.
• Grand Canyon Education reported an earnings beat with $1.53 EPS, exceeding analyst estimates, and a revenue increase of 8.8% year-over-year, signaling strong financial performance.

Vanguard Group Inc. reduced its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,841,548 shares of the company's stock after selling 82,612 shares during the quarter. Vanguard Group Inc. owned 10.00% of Grand Canyon Education worth $491,645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC bought a new position in shares of Grand Canyon Education in the fourth quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Grand Canyon Education by 58.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after buying an additional 96 shares in the last quarter. UMB Bank n.a. grew its stake in Grand Canyon Education by 107.8% during the first quarter. UMB Bank n.a. now owns 318 shares of the company's stock worth $55,000 after buying an additional 165 shares in the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of Grand Canyon Education in the 1st quarter valued at approximately $65,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Grand Canyon Education in the 1st quarter valued at approximately $75,000. 94.17% of the stock is owned by institutional investors.

Grand Canyon Education Stock Performance

NASDAQ LOPE traded up $1.54 during trading on Friday, hitting $197.64. 178,077 shares of the company's stock traded hands, compared to its average volume of 328,068. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.45 and a beta of 0.79. Grand Canyon Education, Inc. has a 12-month low of $130.69 and a 12-month high of $202.28. The business has a 50 day moving average of $180.92 and a 200-day moving average of $180.77.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.16. Grand Canyon Education had a net margin of 22.15% and a return on equity of 31.50%. The firm had revenue of $247.50 million for the quarter, compared to the consensus estimate of $240.90 million. During the same period in the prior year, the firm posted $1.19 earnings per share. The company's revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Grand Canyon Education, Inc. will post 8.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Barrington Research restated an "outperform" rating and set a $215.00 price target on shares of Grand Canyon Education in a report on Thursday, August 7th. Finally, BMO Capital Markets lowered their price objective on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research note on Monday, July 7th.

Grand Canyon Education Company 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.