Grand Canyon Education (NASDAQ:LOPE) Hits New 52-Week High After Strong Earnings

Grand Canyon Education, Inc. (NASDAQ:LOPE) hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $156.56 and last traded at $151.21, with a volume of 93210 shares trading hands. The stock had previously closed at $139.78.

The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.22 by $0.13. The business had revenue of $274.68 million for the quarter, compared to the consensus estimate of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LOPE. Robert W. Baird increased their target price on Grand Canyon Education from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday. Barrington Research raised their price objective on Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets raised their price objective on Grand Canyon Education from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday.

Insider Buying and Selling

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the sale, the chief technology officer now directly owns 25,674 shares in the company, valued at $3,405,656.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grand Canyon Education

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in shares of Grand Canyon Education in the fourth quarter valued at approximately $54,000. Blue Trust Inc. increased its stake in Grand Canyon Education by 120.2% in the fourth quarter. Blue Trust Inc. now owns 425 shares of the company’s stock valued at $56,000 after acquiring an additional 232 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Grand Canyon Education by 208.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 429 shares of the company’s stock valued at $57,000 after acquiring an additional 290 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Grand Canyon Education by 41.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 497 shares of the company’s stock valued at $66,000 after acquiring an additional 145 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Grand Canyon Education in the fourth quarter valued at approximately $101,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Stock Up 5.2 %

The business’s 50 day moving average is $133.28 and its 200-day moving average is $132.36. The firm has a market capitalization of $4.38 billion, a P/E ratio of 21.63, a PEG ratio of 1.19 and a beta of 0.60.

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.