BlueMountain Capital Management LLC Takes $884,000 Position in Grand Canyon Education Inc (LOPE)

BlueMountain Capital Management LLC bought a new stake in shares of Grand Canyon Education Inc (NASDAQ:LOPE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,918 shares of the company’s stock, valued at approximately $884,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Summit Trail Advisors LLC grew its stake in shares of Grand Canyon Education by 7,783.3% in the 1st quarter. Summit Trail Advisors LLC now owns 415,843 shares of the company’s stock worth $416,000 after buying an additional 410,568 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Grand Canyon Education by 239.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 187,508 shares of the company’s stock worth $20,928,000 after buying an additional 132,242 shares in the last quarter. Redwood Investments LLC purchased a new position in shares of Grand Canyon Education in the 2nd quarter worth $14,326,000. Acadian Asset Management LLC grew its stake in shares of Grand Canyon Education by 97.6% in the 2nd quarter. Acadian Asset Management LLC now owns 222,436 shares of the company’s stock worth $24,825,000 after buying an additional 109,870 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Grand Canyon Education by 45,002.9% in the 2nd quarter. Federated Investors Inc. PA now owns 107,345 shares of the company’s stock worth $11,981,000 after buying an additional 107,107 shares in the last quarter. 94.26% of the stock is owned by institutional investors.

A number of equities analysts have commented on the stock. BidaskClub cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets lifted their price objective on shares of Grand Canyon Education from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a research note on Thursday, September 6th. Finally, Barrington Research lifted their price objective on shares of Grand Canyon Education from $117.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, July 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Grand Canyon Education has a consensus rating of “Buy” and an average target price of $133.20.

Grand Canyon Education stock opened at $111.08 on Friday. The stock has a market capitalization of $5.47 billion, a PE ratio of 28.05, a PEG ratio of 1.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.73 and a quick ratio of 5.73. Grand Canyon Education Inc has a 12-month low of $80.87 and a 12-month high of $123.30.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Wednesday, August 8th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The firm had revenue of $236.82 million during the quarter, compared to analyst estimates of $235.13 million. Grand Canyon Education had a net margin of 22.28% and a return on equity of 21.38%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS. research analysts forecast that Grand Canyon Education Inc will post 4.89 EPS for the current year.

Grand Canyon Education Profile

Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for Grand Canyon Education (NASDAQ:LOPE)

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