Convergence Investment Partners LLC purchased a new position in shares of Grand Canyon Education Inc (NASDAQ:LOPE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,860 shares of the company’s stock, valued at approximately $1,350,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp bought a new position in Grand Canyon Education during the 3rd quarter worth approximately $979,000. Stifel Financial Corp raised its holdings in Grand Canyon Education by 15.5% during the 3rd quarter. Stifel Financial Corp now owns 18,828 shares of the company’s stock worth $1,713,000 after purchasing an additional 2,522 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Grand Canyon Education by 3.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 249,651 shares of the company’s stock worth $22,674,000 after purchasing an additional 7,479 shares during the last quarter. Neumeier Poma Investment Counsel LLC raised its holdings in Grand Canyon Education by 3.5% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 514,450 shares of the company’s stock worth $46,722,000 after purchasing an additional 17,525 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Grand Canyon Education by 42.0% in the 3rd quarter. Wells Fargo & Company MN now owns 528,016 shares of the company’s stock valued at $47,956,000 after acquiring an additional 156,192 shares in the last quarter. Hedge funds and other institutional investors own 96.16% of the company’s stock.
LOPE has been the subject of several research analyst reports. ValuEngine upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of Grand Canyon Education in a research note on Monday, September 18th. Zacks Investment Research lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Piper Jaffray Companies lifted their price objective on shares of Grand Canyon Education from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $103.00 price objective (up previously from $98.00) on shares of Grand Canyon Education in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $100.80.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.05. The business had revenue of $236.21 million during the quarter, compared to analyst estimates of $231.43 million. Grand Canyon Education had a net margin of 19.32% and a return on equity of 21.40%. Grand Canyon Education’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. research analysts anticipate that Grand Canyon Education Inc will post 3.9 EPS for the current year.
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Grand Canyon Education Company Profile
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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