55,759 Shares in Grand Canyon Education, Inc. $LOPE Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 55,759 shares of the company’s stock, valued at approximately $7,980,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of Grand Canyon Education during the fourth quarter worth about $25,000. Larson Financial Group LLC grew its stake in shares of Grand Canyon Education by 70.7% in the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company’s stock valued at $26,000 after buying 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 purchased a new stake in shares of Grand Canyon Education during the 1st quarter valued at about $33,000. Finally, Leonteq Securities AG raised its holdings in shares of Grand Canyon Education by 48.9% during the 1st quarter. Leonteq Securities AG now owns 195 shares of the company’s stock valued at $33,000 after buying an additional 64 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Grand Canyon Education Stock Performance

Shares of NASDAQ:LOPE opened at $144.20 on Friday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.95 and a beta of 0.57. Grand Canyon Education, Inc. has a 1-year low of $134.27 and a 1-year high of $223.04. The company’s fifty day moving average is $146.49 and its two-hundred day moving average is $158.07.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.14. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The company had revenue of $264.05 million for the quarter, compared to the consensus estimate of $261.87 million. During the same period last year, the firm posted $1.53 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts expect that Grand Canyon Education, Inc. will post 10.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LOPE shares. Truist Financial set a $100.00 price target on Grand Canyon Education in a report on Tuesday, June 9th. Wall Street Zen lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings lowered shares of Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. BMO Capital Markets reduced their target price on shares of Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Finally, Barrington Research set a $200.00 target price on shares of Grand Canyon Education in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.67.

Grand Canyon Education Company Profile

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.