Grand Canyon Education (NASDAQ:LOPE) Trading 4.4% Higher

Grand Canyon Education, Inc. (NASDAQ:LOPE)’s stock price was up 4.4% during trading on Friday . The stock traded as high as $140.92 and last traded at $140.62. Approximately 73,529 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 196,339 shares. The stock had previously closed at $134.66.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LOPE shares. BMO Capital Markets increased their price objective on Grand Canyon Education from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Robert W. Baird increased their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Barrington Research lifted their price objective on Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th.

Grand Canyon Education Price Performance

The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.16 and a beta of 0.64. The business’s 50 day moving average is $139.36 and its 200 day moving average is $134.74.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. The company had revenue of $274.68 million for the quarter, compared to analysts’ expectations of $272.42 million. During the same quarter last year, the company earned $2.00 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that Grand Canyon Education, Inc. will post 7.8 earnings per share for the current year.

Insider Activity

In related news, Director Lisa Graham Keegan sold 270 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $147.96, for a total value of $39,949.20. Following the completion of the sale, the director now directly owns 2,635 shares of the company’s stock, valued at approximately $389,874.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Grand Canyon Education news, insider Kathy J. Claypatch sold 1,500 shares of Grand Canyon Education stock in a transaction on Friday, May 10th. The shares were sold at an average price of $149.20, for a total value of $223,800.00. Following the transaction, the insider now directly owns 8,320 shares in the company, valued at $1,241,344. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lisa Graham Keegan sold 270 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $147.96, for a total transaction of $39,949.20. Following the completion of the sale, the director now directly owns 2,635 shares of the company’s stock, valued at $389,874.60. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Grand Canyon Education

A number of hedge funds and other institutional investors have recently made changes to their positions in LOPE. Alaska Permanent Fund Corp grew its stake in shares of Grand Canyon Education by 8.3% in the 4th quarter. Alaska Permanent Fund Corp now owns 86,044 shares of the company’s stock valued at $11,361,000 after purchasing an additional 6,598 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in Grand Canyon Education by 161.1% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 18,233 shares of the company’s stock valued at $2,407,000 after buying an additional 11,251 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Grand Canyon Education by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 321,924 shares of the company’s stock valued at $42,507,000 after buying an additional 11,567 shares during the period. National Bank of Canada FI purchased a new position in Grand Canyon Education during the 4th quarter worth $1,979,000. Finally, Norges Bank purchased a new position in Grand Canyon Education during the 4th quarter worth $44,529,000. Hedge funds and other 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.