Grand Canyon Education, Inc. $LOPE Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its holdings in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 517,085 shares of the company’s stock after selling 38,607 shares during the quarter. Grand Canyon Education accounts for about 2.4% of Riverbridge Partners LLC’s holdings, making the stock its 11th biggest position. Riverbridge Partners LLC owned approximately 1.98% of Grand Canyon Education worth $78,385,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Engineers Gate Manager LP boosted its stake in Grand Canyon Education by 37.7% during the 2nd quarter. Engineers Gate Manager LP now owns 46,565 shares of the company’s stock valued at $6,664,000 after purchasing an additional 12,744 shares during the last quarter. Amundi raised its stake in shares of Grand Canyon Education by 12.5% in the second quarter. Amundi now owns 94,133 shares of the company’s stock worth $13,471,000 after purchasing an additional 10,441 shares during the last quarter. Crown Advisors Management Inc. purchased a new stake in shares of Grand Canyon Education in the second quarter worth approximately $5,009,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Grand Canyon Education in the second quarter valued at approximately $1,628,000. Finally, Algert Global LLC lifted its holdings in shares of Grand Canyon Education by 46.7% in the second quarter. Algert Global LLC now owns 155,265 shares of the company’s stock valued at $22,220,000 after purchasing an additional 49,394 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LOPE. Truist Financial decreased their price target 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. Barrington Research set a $200.00 price objective on Grand Canyon Education in a research note on Friday, July 31st. BMO Capital Markets dropped their price objective 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 report on Tuesday, September 22nd. Finally, 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. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Grand Canyon Education has an average rating of “Moderate Buy” and an average target price of $187.33.

Grand Canyon Education Stock Up 0.3%

Grand Canyon Education stock opened at $116.50 on Wednesday. Grand Canyon Education, Inc. has a 52 week low of $113.84 and a 52 week high of $182.15. The company’s 50 day moving average price is $151.41 and its two-hundred day moving average price is $155.96. The stock has a market cap of $2.97 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.77 and a beta of 0.66.

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

About Grand Canyon Education

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.