Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Acquired by BlackRock Inc.

BlackRock Inc. lifted its holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Rating) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,997,041 shares of the company’s stock after acquiring an additional 75,334 shares during the quarter. BlackRock Inc. owned 9.62% of Grand Canyon Education worth $246,507,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LOPE. Riverbridge Partners LLC lifted its stake in shares of Grand Canyon Education by 0.5% in the 3rd quarter. Riverbridge Partners LLC now owns 2,115,098 shares of the company’s stock valued at $173,967,000 after purchasing an additional 9,672 shares during the period. State Street Corp raised its position in shares of Grand Canyon Education by 3.9% in the first quarter. State Street Corp now owns 1,090,321 shares of the company’s stock worth $105,881,000 after acquiring an additional 41,102 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of Grand Canyon Education by 0.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 960,675 shares of the company’s stock worth $90,486,000 after acquiring an additional 7,302 shares in the last quarter. FMR LLC grew its position in shares of Grand Canyon Education by 19,263.1% during the 2nd quarter. FMR LLC now owns 613,230 shares of the company’s stock valued at $57,760,000 after acquiring an additional 610,063 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Grand Canyon Education by 24.3% in the 2nd quarter. Northern Trust Corp now owns 600,058 shares of the company’s stock valued at $56,519,000 after purchasing an additional 117,206 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Grand Canyon Education Price Performance

Shares of Grand Canyon Education stock opened at $107.24 on Tuesday. The stock has a market capitalization of $3.33 billion, a P/E ratio of 18.75, a PEG ratio of 1.13 and a beta of 0.60. The business has a 50 day simple moving average of $113.36 and a two-hundred day simple moving average of $101.49. Grand Canyon Education, Inc. has a 12 month low of $78.37 and a 12 month high of $121.60.

Grand Canyon Education (NASDAQ:LOPE – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. Grand Canyon Education had a return on equity of 30.24% and a net margin of 20.26%. The firm had revenue of $258.70 million during the quarter, compared to the consensus estimate of $256.17 million. During the same period in the prior year, the company earned $2.11 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Grand Canyon Education, Inc. will post 6.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LOPE has been the subject of several research analyst reports. BMO Capital Markets upped their target price on Grand Canyon Education from $125.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Barrington Research upped their price objective on shares of Grand Canyon Education from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th.

About Grand Canyon Education

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Grand Canyon Education, Inc engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.