Grand Canyon Education, Inc. $LOPE Stock: Riverbridge Partners LLC Decreases Position

Riverbridge Partners LLC lessened its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 6.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 517,085 shares of the company’s stock after selling 38,607 shares during the quarter. Grand Canyon Education makes up about 2.4% of Riverbridge Partners LLC’s portfolio, making the stock its 11th largest position. Riverbridge Partners LLC’s holdings in Grand Canyon Education were worth $78,385,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LOPE. BlackRock Inc. bought a new stake in shares of Grand Canyon Education in the 2nd quarter worth approximately $397,654,000. William Blair Investment Management LLC bought a new position in Grand Canyon Education during the second quarter valued at $148,667,000. Jupiter Topco LLC bought a new position in Grand Canyon Education during the second quarter valued at $42,939,000. Reinhart Partners LLC. grew its holdings in Grand Canyon Education by 36.9% during the second quarter. Reinhart Partners LLC. now owns 882,927 shares of the company’s stock valued at $126,358,000 after purchasing an additional 237,939 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Grand Canyon Education in the second quarter worth $23,677,000. Institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets lowered their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grand Canyon Education in a research report on Tuesday, September 22nd. Barrington Research set a $200.00 price target on Grand Canyon Education in a research note on Friday, July 31st. Truist Financial decreased their price objective on Grand Canyon Education from $200.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Finally, Wall Street Zen lowered Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.33.

Grand Canyon Education Stock Up 0.3%

NASDAQ LOPE opened at $116.50 on Wednesday. The company’s 50 day moving average is $151.41 and its 200-day moving average is $155.96. Grand Canyon Education, Inc. has a 12-month low of $113.84 and a 12-month high of $182.15. The firm has a market cap of $2.97 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.77 and a beta of 0.66.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. The company had revenue of $267.35 million for the quarter, compared to analysts’ expectations of $270.11 million. Grand Canyon Education had a net margin of 21.85% and a return on equity of 37.61%. Grand Canyon Education’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. Equities analysts expect that Grand Canyon Education, Inc. will post 10.09 EPS for the current year.

Grand Canyon Education Company 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.