Grand Canyon Education (NASDAQ:LOPE) Hits New 12-Month High on Strong Earnings

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

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

Wall Street Analyst Weigh In

LOPE has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barrington Research boosted their price target on shares of Grand Canyon Education from $180.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $166.07, for a total value of $249,105.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Grand Canyon Education

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of Grand Canyon Education by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,225 shares of the company’s stock worth $692,000 after buying an additional 63 shares during the last quarter. DGS Capital Management LLC raised its stake in shares of Grand Canyon Education by 1.5% during the third quarter. DGS Capital Management LLC now owns 4,399 shares of the company’s stock worth $624,000 after buying an additional 67 shares during the last quarter. Barclays PLC raised its stake in shares of Grand Canyon Education by 0.4% during the third quarter. Barclays PLC now owns 18,977 shares of the company’s stock worth $2,692,000 after buying an additional 84 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Grand Canyon Education by 1.6% during the third quarter. MML Investors Services LLC now owns 5,740 shares of the company’s stock worth $814,000 after buying an additional 91 shares during the last quarter. Finally, NDVR Inc. raised its stake in shares of Grand Canyon Education by 5.1% during the fourth quarter. NDVR Inc. now owns 1,878 shares of the company’s stock worth $308,000 after buying an additional 91 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Grand Canyon Education Price Performance

The firm has a market capitalization of $5.46 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.39 and a beta of 0.74. The stock’s 50 day moving average is $170.74 and its two-hundred day moving average is $155.40.

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.