Wellington Management Group LLP Buys 15,633 Shares of Grand Canyon Education, Inc. $LOPE

Wellington Management Group LLP increased its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 145.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,400 shares of the company’s stock after buying an additional 15,633 shares during the quarter. Wellington Management Group LLP’s holdings in Grand Canyon Education were worth $3,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Grand Canyon Education during the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in Grand Canyon Education by 70.7% during the fourth quarter. Larson Financial Group LLC now owns 157 shares of the company’s stock worth $26,000 after buying an additional 65 shares in the last quarter. Toronto Dominion Bank bought a new stake in Grand Canyon Education in the 4th quarter valued at $26,000. Financial Life Planners acquired a new position in shares of Grand Canyon Education in the 1st quarter valued at $33,000. Finally, Leonteq Securities AG raised its stake in shares of Grand Canyon Education by 48.9% in 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 in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $151.00 on Thursday. Grand Canyon Education, Inc. has a 52 week low of $134.27 and a 52 week high of $223.04. The business’s fifty day moving average is $147.91 and its two-hundred day moving average is $155.71. The firm has a market cap of $3.94 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.99 and a beta of 0.58.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.14. The firm had revenue of $264.05 million during the quarter, compared to analysts’ expectations of $261.87 million. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 EPS. On average, equities research analysts predict that Grand Canyon Education, Inc. will post 10.22 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets decreased 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. Weiss Ratings cut shares of Grand Canyon Education from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. Barrington Research set a $200.00 price objective on Grand Canyon Education in a report on Friday, July 31st. Truist Financial set a $100.00 price objective on Grand Canyon Education in a research note on Tuesday, June 9th. Finally, Wall Street Zen cut Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Grand Canyon Education presently has a consensus 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.