Grand Canyon Education, Inc. (NASDAQ:LOPE) Short Interest Update

Grand Canyon Education, Inc. (NASDAQ:LOPEGet Rating) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 777,100 shares, a decline of 21.3% from the March 15th total of 986,900 shares. Based on an average daily volume of 399,800 shares, the short-interest ratio is currently 1.9 days. Currently, 2.2% of the shares of the company are short sold.

Shares of LOPE traded down $0.24 on Tuesday, hitting $100.00. The company’s stock had a trading volume of 17,519 shares, compared to its average volume of 384,545. The company has a market capitalization of $3.53 billion, a PE ratio of 16.68, a PEG ratio of 1.15 and a beta of 0.52. Grand Canyon Education has a fifty-two week low of $70.00 and a fifty-two week high of $115.96. The company has a 50 day moving average price of $92.13 and a 200 day moving average price of $86.25.

Grand Canyon Education (NASDAQ:LOPEGet Rating) last announced its earnings results on Wednesday, February 16th. The company reported $2.11 EPS for the quarter, missing the consensus estimate of $2.12 by ($0.01). The business had revenue of $251.40 million during the quarter, compared to analyst estimates of $252.41 million. Grand Canyon Education had a return on equity of 18.92% and a net margin of 29.04%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, research analysts predict that Grand Canyon Education will post 5.89 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on LOPE shares. BMO Capital Markets decreased their price objective on Grand Canyon Education from $105.00 to $92.00 in a report on Friday, February 18th. Robert W. Baird decreased their price objective on Grand Canyon Education from $105.00 to $95.00 in a report on Thursday, February 17th. TheStreet raised Grand Canyon Education from a “c+” rating to a “b” rating in a report on Tuesday, April 5th. Berenberg Bank downgraded Grand Canyon Education from a “buy” rating to a “hold” rating and decreased their price objective for the company from $110.00 to $86.00 in a report on Friday, January 28th. Finally, StockNews.com started coverage on Grand Canyon Education in a report on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $92.80.

In related news, insider Kathy J. Claypatch sold 800 shares of the business’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $92.16, for a total transaction of $73,728.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina grew its position in shares of Grand Canyon Education by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 16,107 shares of the company’s stock worth $1,417,000 after buying an additional 149 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Grand Canyon Education by 5.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,455 shares of the company’s stock valued at $304,000 after acquiring an additional 163 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Grand Canyon Education by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 11,875 shares of the company’s stock valued at $1,038,000 after purchasing an additional 189 shares during the period. Truist Financial Corp boosted its position in shares of Grand Canyon Education by 0.8% in the 3rd quarter. Truist Financial Corp now owns 26,251 shares of the company’s stock worth $2,310,000 after purchasing an additional 198 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Grand Canyon Education by 4.6% during the third quarter. Bank of Nova Scotia now owns 5,477 shares of the company’s stock worth $482,000 after purchasing an additional 241 shares during the period. Institutional investors own 91.79% of the company’s stock.

About Grand Canyon Education (Get Rating)

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company's technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.

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