Driehaus Capital Management LLC Boosts Stake in Grand Canyon Education, Inc. (NASDAQ:LOPE)

Driehaus Capital Management LLC boosted its position in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,815 shares of the company’s stock after purchasing an additional 9,843 shares during the quarter. Driehaus Capital Management LLC’s holdings in Grand Canyon Education were worth $19,142,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Scientech Research LLC purchased a new stake in Grand Canyon Education during the second quarter worth $371,000. Mackenzie Financial Corp purchased a new stake in Grand Canyon Education during the second quarter worth $454,000. Dark Forest Capital Management LP purchased a new stake in Grand Canyon Education during the second quarter worth $388,000. Deerfield Management Company L.P. Series C purchased a new stake in Grand Canyon Education during the second quarter worth $463,000. Finally, AQR Capital Management LLC boosted its position in Grand Canyon Education by 47.7% during the second quarter. AQR Capital Management LLC now owns 538,532 shares of the company’s stock worth $74,452,000 after purchasing an additional 173,800 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOPE has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Grand Canyon Education from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com raised Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. Finally, Barrington Research reissued an “outperform” rating and issued a $165.00 price target on shares of Grand Canyon Education in a report on Friday, September 20th.

Insider Activity at Grand Canyon Education

In related news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction on 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 in the company, valued at $3,202,249.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Grand Canyon Education Stock Down 0.2 %

NASDAQ LOPE opened at $142.34 on Friday. Grand Canyon Education, Inc. has a fifty-two week low of $112.38 and a fifty-two week high of $157.53. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.21 and a beta of 0.69. The business has a fifty day moving average of $144.37 and a 200-day moving average of $140.42.

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, topping 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 business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, analysts anticipate that Grand Canyon Education, Inc. will post 7.98 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.