Lord Abbett & CO. LLC Has $49.01 Million Holdings in Grand Canyon Education Inc (LOPE)

Lord Abbett & CO. LLC boosted its position in Grand Canyon Education Inc (NASDAQ:LOPE) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 467,085 shares of the company’s stock after purchasing an additional 39,860 shares during the period. Lord Abbett & CO. LLC owned approximately 0.97% of Grand Canyon Education worth $49,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van Berkom & Associates Inc. increased its position in shares of Grand Canyon Education by 1.4% during the first quarter. Van Berkom & Associates Inc. now owns 1,367,280 shares of the company’s stock worth $143,455,000 after acquiring an additional 18,569 shares during the period. Handelsbanken Fonder AB increased its position in shares of Grand Canyon Education by 10.7% during the fourth quarter. Handelsbanken Fonder AB now owns 1,262,290 shares of the company’s stock worth $113,013,000 after acquiring an additional 122,000 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of Grand Canyon Education by 6.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,205,832 shares of the company’s stock worth $107,958,000 after acquiring an additional 71,463 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Grand Canyon Education by 60.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 548,497 shares of the company’s stock worth $49,107,000 after acquiring an additional 206,709 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Grand Canyon Education by 0.6% during the first quarter. Victory Capital Management Inc. now owns 540,788 shares of the company’s stock worth $56,740,000 after acquiring an additional 3,451 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

Shares of Grand Canyon Education opened at $112.96 on Thursday, MarketBeat Ratings reports. The company has a market cap of $5.47 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 1.62 and a beta of 1.15. Grand Canyon Education Inc has a 52-week low of $71.00 and a 52-week high of $116.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.66 and a current ratio of 1.66.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. The business had revenue of $275.68 million for the quarter, compared to analysts’ expectations of $274.13 million. Grand Canyon Education had a return on equity of 22.00% and a net margin of 22.07%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 earnings per share. sell-side analysts anticipate that Grand Canyon Education Inc will post 4.83 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research report on Saturday, May 26th. Robert W. Baird reissued an “outperform” rating and set a $105.00 price objective (up from $100.00) on shares of Grand Canyon Education in a report on Thursday, February 22nd. Piper Jaffray Companies lifted their price objective on shares of Grand Canyon Education to $114.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. They noted that the move was a valuation call. Finally, Barrington Research reissued a “buy” rating on shares of Grand Canyon Education in a report on Tuesday, May 15th. Seven investment analysts have rated the stock with a buy rating, Grand Canyon Education presently has an average rating of “Buy” and a consensus price target of $110.80.

About Grand Canyon Education

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.

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

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