Burgundy Asset Management Ltd. Boosts Stock Holdings in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Burgundy Asset Management Ltd. lifted its stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 850,343 shares of the company’s stock after purchasing an additional 11,179 shares during the period. Burgundy Asset Management Ltd. owned about 2.86% of Grand Canyon Education worth $118,971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its position in shares of Grand Canyon Education by 51.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,473 shares of the company’s stock valued at $766,000 after purchasing an additional 1,849 shares during the last quarter. Wealth Alliance grew its stake in shares of Grand Canyon Education by 3.8% during the second quarter. Wealth Alliance now owns 2,428 shares of the company’s stock worth $340,000 after purchasing an additional 89 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Grand Canyon Education by 41.0% in the second quarter. Renaissance Technologies LLC now owns 285,057 shares of the company’s stock valued at $39,882,000 after buying an additional 82,855 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Grand Canyon Education by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 716,229 shares of the company’s stock valued at $100,197,000 after buying an additional 12,509 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Grand Canyon Education by 5.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 75,722 shares of the company’s stock worth $10,594,000 after buying an additional 3,982 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Stock Performance

Grand Canyon Education stock opened at $141.56 on Thursday. The stock has a 50-day simple moving average of $145.01 and a 200-day simple moving average of $140.03. The company has a market capitalization of $4.21 billion, a P/E ratio of 19.80, a PEG ratio of 1.16 and a beta of 0.69. Grand Canyon Education, Inc. has a fifty-two week low of $111.92 and a fifty-two week high of $157.53.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data 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. The company had revenue of $227.50 million during the quarter, compared to analysts’ expectations of $223.56 million. Grand Canyon Education had a return on equity of 31.49% and a net margin of 21.88%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, analysts forecast that Grand Canyon Education, Inc. will post 7.98 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $165.00 price objective on shares of Grand Canyon Education in a report on Wednesday, August 7th. BMO Capital Markets increased their price target on shares of Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Tuesday.

Grand Canyon Education Company Profile

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.