Vident Advisory LLC Purchases 11,255 Shares of Grand Canyon Education, Inc. $LOPE

Key Points

• Vident Advisory LLC increased its stake in Grand Canyon Education by 117.3%, acquiring an additional 11,255 shares, bringing its total holdings to approximately 20,846 shares.
• Key analysts have given Grand Canyon Education a consensus rating of "Buy" with an average price target of $203.67, indicating positive expectations for the stock's performance.
• Grand Canyon Education reported strong quarterly earnings with an EPS of $1.53, surpassing estimates and showing an 8.8% revenue growth compared to the previous year.

Vident Advisory LLC lifted its position in Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 117.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,846 shares of the company's stock after buying an additional 11,255 shares during the period. Vident Advisory LLC owned about 0.07% of Grand Canyon Education worth $3,607,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LOPE. Burgundy Asset Management Ltd. grew its stake in Grand Canyon Education by 6.9% in the first quarter. Burgundy Asset Management Ltd. now owns 946,152 shares of the company's stock valued at $163,703,000 after acquiring an additional 61,034 shares during the period. Allianz Asset Management GmbH boosted its stake in Grand Canyon Education by 79.7% in the 1st quarter. Allianz Asset Management GmbH now owns 386,244 shares of the company's stock worth $66,828,000 after purchasing an additional 171,261 shares during the period. Northern Trust Corp increased its holdings in Grand Canyon Education by 8.1% during the 1st quarter. Northern Trust Corp now owns 370,875 shares of the company's stock worth $64,169,000 after purchasing an additional 27,714 shares in the last quarter. Reinhart Partners LLC. raised its stake in shares of Grand Canyon Education by 10.7% in the 1st quarter. Reinhart Partners LLC. now owns 366,392 shares of the company's stock valued at $63,393,000 after purchasing an additional 35,446 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Grand Canyon Education by 3.8% in the first quarter. Los Angeles Capital Management LLC now owns 360,825 shares of the company's stock valued at $62,430,000 after purchasing an additional 13,347 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Ratings Changes

LOPE has been the topic of a number of recent research reports. Wall Street Zen raised Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barrington Research reissued an "outperform" rating and issued a $215.00 price objective on shares of Grand Canyon Education in a research report on Thursday, August 7th. Finally, BMO Capital Markets decreased their target price on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research report on Monday, July 7th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Grand Canyon Education currently has a consensus rating of "Buy" and a consensus target price of $203.67.

Grand Canyon Education Trading Down 0.3%

Shares of LOPE traded down $0.61 during midday trading on Thursday, reaching $204.94. The stock had a trading volume of 84,045 shares, compared to its average volume of 219,341. The firm has a 50 day simple moving average of $185.13 and a 200-day simple moving average of $182.79. The firm has a market cap of $5.76 billion, a PE ratio of 24.81, a P/E/G ratio of 1.48 and a beta of 0.80. Grand Canyon Education, Inc. has a one year low of $130.69 and a one year high of $207.22.

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

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.