Mackenzie Financial Corp Invests $454,000 in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Mackenzie Financial Corp purchased a new stake in Grand Canyon Education, Inc. (NASDAQ:LOPE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,243 shares of the company’s stock, valued at approximately $454,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOPE. Versant Capital Management Inc lifted 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 valued at $40,000 after purchasing an additional 283 shares in the last quarter. Blue Trust Inc. lifted its stake in Grand Canyon Education by 710.7% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the company’s stock worth $83,000 after acquiring an additional 533 shares in the last quarter. GAMMA Investing LLC boosted its position in Grand Canyon Education by 46.1% during the 2nd quarter. GAMMA Investing LLC now owns 640 shares of the company’s stock worth $90,000 after acquiring an additional 202 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Grand Canyon Education during the 2nd quarter worth about $131,000. Finally, LRI Investments LLC purchased a new position in Grand Canyon Education during the 1st quarter valued at about $132,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LOPE shares. StockNews.com upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. BMO Capital Markets upped their price target 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. Finally, Barrington Research reissued an “outperform” rating and set a $165.00 price objective on shares of Grand Canyon Education in a research report on Friday, September 20th.

Grand Canyon Education Trading Up 1.0 %

Shares of NASDAQ LOPE opened at $139.23 on Friday. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.21 and a beta of 0.69. Grand Canyon Education, Inc. has a one year low of $112.38 and a one year high of $157.53. The business has a fifty day simple moving average of $143.25 and a 200 day simple moving average of $140.75.

Grand Canyon Education (NASDAQ:LOPE) last released 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. Grand Canyon Education had a return on equity of 31.49% and a net margin of 21.88%. The company had revenue of $227.50 million for the quarter, compared to the consensus estimate of $223.56 million. During the same period in the previous year, the business earned $1.01 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that Grand Canyon Education, Inc. will post 7.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total value of $211,845.00. Following the completion of the transaction, the chief technology officer now directly owns 22,674 shares of the company’s stock, valued at approximately $3,202,249.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

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.