Grand Canyon Education (NASDAQ:LOPE) Trading 15.9% Higher Following Strong Earnings

Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) shot up 15.9% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $197.14 and last traded at $199.34. 83,240 shares changed hands during trading, a decline of 60% from the average session volume of 208,831 shares. The stock had previously closed at $172.05.

The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.16. Grand Canyon Education had a return on equity of 31.52% and a net margin of 22.15%. The firm had revenue of $247.50 million during the quarter, compared to the consensus estimate of $240.90 million. During the same period in the prior year, the business earned $1.19 EPS. The firm’s revenue was up 8.8% on a year-over-year basis.

Analysts Set New Price Targets

A number of research firms have issued reports on LOPE. Wall Street Zen lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Thursday, April 24th. Barrington Research reiterated an “outperform” rating and set a $215.00 price objective on shares of Grand Canyon Education in a research report on Thursday. Finally, BMO Capital Markets lowered their target price on Grand Canyon Education from $222.00 to $210.00 and set an “outperform” rating on the stock in a research report on Monday, July 7th.

Institutional Trading of Grand Canyon Education

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC bought a new stake in Grand Canyon Education during the first quarter worth approximately $232,000. Convergence Financial LLC acquired a new position in shares of Grand Canyon Education during the 1st quarter valued at $249,000. Bessemer Group Inc. raised its stake in shares of Grand Canyon Education by 244.2% in the 1st quarter. Bessemer Group Inc. now owns 716 shares of the company’s stock worth $124,000 after buying an additional 508 shares in the last quarter. 111 Capital acquired a new stake in shares of Grand Canyon Education in the fourth quarter valued at $528,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Grand Canyon Education by 5.2% during the first quarter. Harbor Capital Advisors Inc. now owns 43,421 shares of the company’s stock valued at $7,513,000 after buying an additional 2,163 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Grand Canyon Education Price Performance

The business has a fifty day moving average of $180.75 and a 200-day moving average of $179.64. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.31 and a beta of 0.79.

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.