Grand Canyon Education (NASDAQ:LOPE) Sets New 12-Month High – Here’s What Happened

Grand Canyon Education, Inc. (NASDAQ:LOPE)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $182.23 and last traded at $180.89, with a volume of 155782 shares trading hands. The stock had previously closed at $179.16.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LOPE. StockNews.com cut Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barrington Research reissued an “outperform” rating and set a $180.00 price objective on shares of Grand Canyon Education in a research note on Monday, January 27th. Robert W. Baird lifted their price target on shares of Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their price objective on Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Grand Canyon Education Price Performance

The stock’s 50 day simple moving average is $167.66 and its two-hundred day simple moving average is $153.28. The stock has a market cap of $5.26 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74.

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

Insider Transactions at Grand Canyon Education

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the business’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 sale, the chief technology officer now owns 21,174 shares in the company, valued at approximately $3,516,366.18. The trade was a 6.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by insiders.

Institutional Trading of Grand Canyon Education

Hedge funds and other institutional investors have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Grand Canyon Education during the fourth quarter worth $27,000. Reston Wealth Management LLC acquired a new stake in shares of Grand Canyon Education in the third quarter valued at about $28,000. True Wealth Design LLC bought a new stake in Grand Canyon Education during the third quarter worth about $31,000. Financial Life Planners acquired a new position in Grand Canyon Education during the fourth quarter valued at approximately $37,000. Finally, Capital Performance Advisors LLP bought a new position in Grand Canyon Education in the third quarter valued at approximately $60,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.