Wasatch Core Growth Fund recently released its Q2 2021 Investor Letter, a copy of which you can download here. The fund posted a return of 8.6% for the quarter, outperforming its benchmark, the Russell 2000 Index which returned 4.3% in the same quarter. You should check out Wasatch’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Grand Canyon Education Inc. (NASDAQ:LOPE) is one of them. Grand Canyon Education Inc. (NASDAQ:LOPE) provides online post secondary education services. In the last three months, Grand Canyon Education Inc. (NASDAQ:LOPE) stock lost 2%. Here is what the fund said:
“Another significant detractor was Grand Canyon Education, Inc. (LOPE). The company offers graduate and undergraduate degree programs and certifications in fields related to teaching, business and health care. Grand Canyon offers instruction via online classes, and it operates a full-service campus in Arizona complete with dormitories and Division 1 sports. While the use of online education was especially strong during the height of the pandemic, recent on-campus enrollments have been somewhat weaker as admissions counselors were unable to visit many high schools due to the pandemic. As a result, Grand Canyon’s stock was down during the quarter, but we believe the issue is transitory and its growth trajectory will resume in 2022.”
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In August, we published an article revealing that Grand Canyon Education Inc. (NASDAQ:LOPE) was one of the 5 best stocks to invest in according to Philip Timon’s Owls Nest Partners.
In Q1 2021, the number of bullish hedge fund positions on Grand Canyon Education Inc. (NASDAQ:LOPE) stock decreased by about 8% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in LOPE’s growth potential. Our calculations showed that Grand Canyon Education Inc. (NASDAQ:LOPE) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
