Allspring Global Investments Holdings LLC Increases Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Allspring Global Investments Holdings LLC lifted its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 89.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,075 shares of the company’s stock after purchasing an additional 81,853 shares during the period. Allspring Global Investments Holdings LLC owned about 0.58% of Grand Canyon Education worth $24,215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LOPE. Versant Capital Management Inc grew its holdings in shares of Grand Canyon Education by 14,150.0% in the second quarter. Versant Capital Management Inc now owns 285 shares of the company’s stock worth $40,000 after purchasing an additional 283 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Grand Canyon Education in the fourth quarter worth about $54,000. Blue Trust Inc. grew its holdings in shares of Grand Canyon Education by 710.7% in the second quarter. Blue Trust Inc. now owns 608 shares of the company’s stock worth $83,000 after purchasing an additional 533 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Grand Canyon Education in the fourth quarter worth about $101,000. Finally, TFO Wealth Partners LLC grew its holdings in shares of Grand Canyon Education by 85,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 853 shares of the company’s stock worth $113,000 after purchasing an additional 852 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barrington Research reissued an “outperform” rating and set a $165.00 target price on shares of Grand Canyon Education in a research report on Wednesday, August 7th. BMO Capital Markets boosted their price objective on shares of Grand Canyon Education from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Finally, Robert W. Baird lifted their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th.

Grand Canyon Education Stock Performance

NASDAQ:LOPE opened at $141.93 on Wednesday. Grand Canyon Education, Inc. has a fifty-two week low of $110.42 and a fifty-two week high of $157.53. The stock has a market capitalization of $4.22 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.31 and a beta of 0.66. The company’s 50-day simple moving average is $144.10 and its 200-day simple moving average is $138.97.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. The business had revenue of $227.50 million for the quarter, compared to analysts’ expectations of $223.56 million. During the same period last year, the business earned $1.01 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts forecast that Grand Canyon Education, Inc. will post 7.8 EPS for the current year.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.