Hsbc Holdings PLC Buys New Stake in Grand Canyon Education, Inc. $LOPE

Hsbc Holdings PLC purchased a new position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,142 shares of the company’s stock, valued at approximately $1,887,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Grand Canyon Education during the second quarter worth about $397,654,000. William Blair Investment Management LLC purchased a new stake in shares of Grand Canyon Education in the 2nd quarter valued at about $148,667,000. Reinhart Partners LLC. boosted its position in shares of Grand Canyon Education by 36.9% in the 2nd 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. GW&K Investment Management LLC grew its stake in Grand Canyon Education by 15.6% during the 4th quarter. GW&K Investment Management LLC now owns 736,524 shares of the company’s stock worth $122,493,000 after buying an additional 99,320 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Grand Canyon Education by 30.9% during the fourth quarter. AQR Capital Management LLC now owns 649,269 shares of the company’s stock worth $107,980,000 after buying an additional 153,189 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

LOPE has been the subject of a number of research reports. Truist Financial set a $100.00 price objective on Grand Canyon Education in a research note on Tuesday, June 9th. BMO Capital Markets reduced their price target on shares of Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. Wall Street Zen cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings downgraded shares of Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Finally, Barrington Research set a $200.00 price objective on shares of Grand Canyon Education in a research report 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.67.

Grand Canyon Education Stock Performance

Shares of LOPE stock opened at $151.19 on Monday. The business’s 50 day moving average is $146.78 and its two-hundred day moving average is $156.31. Grand Canyon Education, Inc. has a twelve month low of $134.27 and a twelve month high of $223.04. The company has a market capitalization of $3.94 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57.

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

Grand Canyon Education 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.