Grand Canyon Education (NASDAQ:LOPE) Hits New 1-Year High Following Earnings Beat

Grand Canyon Education, Inc. (NASDAQ:LOPE)’s share price reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $185.66 and last traded at $185.52, with a volume of 174970 shares traded. The stock had previously closed at $183.70.

The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.02. Grand Canyon Education had a return on equity of 30.91% and a net margin of 21.90%. The firm had revenue of $292.57 million for the quarter, compared to analyst estimates of $289.62 million.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LOPE. Barrington Research lifted their target price on Grand Canyon Education from $180.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com cut Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Robert W. Baird lifted their price objective on Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets lifted their price objective on Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Insider Transactions at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total value of $249,105.00. Following the completion of the sale, the chief technology officer now directly owns 21,174 shares of the company’s stock, valued at approximately $3,516,366.18. The trade was a 6.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of Grand Canyon Education

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOPE. Norges Bank purchased a new stake in Grand Canyon Education during the 4th quarter valued at approximately $57,838,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Grand Canyon Education during the 4th quarter worth approximately $38,066,000. FMR LLC raised its stake in shares of Grand Canyon Education by 14.3% during the 4th quarter. FMR LLC now owns 1,513,249 shares of the company’s stock worth $247,870,000 after buying an additional 189,843 shares in the last quarter. Parsifal Capital Management LP purchased a new position in shares of Grand Canyon Education during the 4th quarter worth approximately $26,238,000. Finally, Boston Partners raised its stake in shares of Grand Canyon Education by 68.6% during the 4th quarter. Boston Partners now owns 392,954 shares of the company’s stock worth $64,786,000 after buying an additional 159,827 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Grand Canyon Education Trading Up 1.8 %

The firm has a market capitalization of $5.46 billion, a PE ratio of 24.20, a P/E/G ratio of 1.39 and a beta of 0.74. The business has a 50 day moving average price of $170.74 and a 200-day moving average price of $155.40.

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.