Assenagon Asset Management S.A. Decreases Stock Holdings in Grand Canyon Education, Inc. $LOPE

Assenagon Asset Management S.A. reduced its position in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 27.8% during the first quarter, Holdings Channel reports. The institutional investor owned 18,575 shares of the company’s stock after selling 7,166 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Grand Canyon Education were worth $3,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of Grand Canyon Education by 6,102.7% during the fourth quarter. Bank of Montreal Can now owns 480,460 shares of the company’s stock worth $79,905,000 after purchasing an additional 472,714 shares in the last quarter. Norges Bank purchased a new position in Grand Canyon Education during the 4th quarter worth $61,919,000. William Blair Investment Management LLC increased its position in Grand Canyon Education by 281.9% during the 4th quarter. William Blair Investment Management LLC now owns 453,140 shares of the company’s stock valued at $75,362,000 after buying an additional 334,486 shares in the last quarter. Reinhart Partners LLC. increased its position in Grand Canyon Education by 135.3% during the 4th quarter. Reinhart Partners LLC. now owns 518,914 shares of the company’s stock valued at $86,303,000 after buying an additional 298,409 shares in the last quarter. Finally, UBS Group AG raised its stake in Grand Canyon Education by 523.1% in the fourth quarter. UBS Group AG now owns 194,634 shares of the company’s stock valued at $32,370,000 after buying an additional 163,397 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Price Performance

Shares of LOPE stock opened at $143.11 on Wednesday. The business has a fifty day moving average of $155.32 and a 200 day moving average of $163.38. Grand Canyon Education, Inc. has a 1 year low of $140.02 and a 1 year high of $223.04. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.08. The business had revenue of $308.76 million for the quarter, compared to the consensus estimate of $307.75 million. Grand Canyon Education had a return on equity of 34.72% and a net margin of 19.54%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 EPS. As a group, equities research analysts expect that Grand Canyon Education, Inc. will post 10.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

LOPE has been the subject of several recent analyst reports. Truist Financial set a $100.00 price target on Grand Canyon Education in a report on Tuesday, June 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Grand Canyon Education in a research report on Thursday, June 4th. 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. Finally, Barrington Research reissued an “outperform” rating and set a $230.00 target price on shares of Grand Canyon Education in a research report on Thursday, April 16th. Three 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.com, the company has an average rating of “Moderate Buy” and an average price target of $180.00.

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.