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

Grand Canyon Education, Inc. (NASDAQ:LOPE)’s stock price reached a new 52-week high during 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 trading hands. The stock had previously closed at $183.70.

The company reported $2.95 EPS 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 firm had revenue of $292.57 million during the quarter, compared to the consensus estimate of $289.62 million.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets upped their price target on shares of Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird upped their price target on shares of Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barrington Research upped their price target on shares of Grand Canyon Education from $180.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday.

Insider Activity

In related news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $166.07, for a total transaction of $249,105.00. Following the completion of the transaction, the chief technology officer now owns 21,174 shares in the company, valued at approximately $3,516,366.18. This represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GeoWealth Management LLC acquired a new position in Grand Canyon Education during the fourth quarter worth $25,000. 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 position in Grand Canyon Education during the third quarter worth $28,000. True Wealth Design LLC acquired a new position in Grand Canyon Education during the third quarter worth $31,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Grand Canyon Education during the fourth quarter worth $32,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Grand Canyon Education Stock Up 1.8 %

The company’s fifty day moving average is $170.74 and its 200 day moving average is $155.40. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.39 and a beta of 0.74.

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.