Grand Canyon Education (NASDAQ:LOPE) Reaches New 52-Week High – What’s Next?

Grand Canyon Education, Inc. (NASDAQ:LOPE) shares reached a new 52-week high during trading on Friday . The stock traded as high as $180.98 and last traded at $175.82, with a volume of 23127 shares. The stock had previously closed at $174.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com cut Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird raised their target price on shares of Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barrington Research reiterated an “outperform” rating and set a $180.00 price target on shares of Grand Canyon Education in a report on Monday, January 27th. Finally, BMO Capital Markets raised their price target on shares of Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Grand Canyon Education Price Performance

The stock has a market capitalization of $5.12 billion, a PE ratio of 23.08, a PEG ratio of 1.31 and a beta of 0.75. The company has a 50 day moving average price of $166.57 and a 200-day moving average price of $152.47.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.47 by $0.01. The business had revenue of $238.30 million during the quarter, compared to analyst estimates of $239.69 million. Grand Canyon Education had a net margin of 22.09% and a return on equity of 31.01%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. As a group, equities analysts anticipate that Grand Canyon Education, Inc. will post 8.03 earnings per share for the current year.

Insider Buying and Selling at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 21,174 shares in the company, valued at $3,516,366.18. This trade represents a 6.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Grand Canyon Education

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new position in shares of Grand Canyon Education in the 2nd quarter worth about $454,000. Creative Planning grew its holdings in Grand Canyon Education by 10.8% in the second quarter. Creative Planning now owns 4,614 shares of the company’s stock worth $646,000 after purchasing an additional 451 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Grand Canyon Education by 1.6% during the second quarter. Cetera Investment Advisers now owns 16,261 shares of the company’s stock valued at $2,275,000 after purchasing an additional 255 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Grand Canyon Education during the second quarter valued at approximately $300,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Grand Canyon Education by 30.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 9,012 shares of the company’s stock worth $1,278,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

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.