Grand Canyon Education (NASDAQ:LOPE) Sets New 52-Week High on Earnings Beat

Grand Canyon Education, Inc. (NASDAQ:LOPE)’s stock price hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. The business had revenue of $274.68 million for the quarter, compared to analyst estimates of $272.42 million. During the same quarter in the previous year, the business earned $2.00 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOPE. Barrington Research upped their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird upped their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, BMO Capital Markets upped their price objective on shares of Grand Canyon Education from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday.

Insider Transactions at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction 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 transaction, the chief technology officer now owns 25,674 shares in the company, valued at approximately $3,405,656.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Grand Canyon Education

Large investors have recently modified their holdings of the company. Treasurer of the State of North Carolina lifted its holdings in shares of Grand Canyon Education by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 19,049 shares of the company’s stock worth $2,226,000 after acquiring an additional 85 shares during the period. Wealth Alliance lifted its holdings in shares of Grand Canyon Education by 3.9% during the 4th quarter. Wealth Alliance now owns 2,277 shares of the company’s stock worth $301,000 after acquiring an additional 85 shares during the period. Riverwater Partners LLC increased its position in shares of Grand Canyon Education by 0.7% during the 4th quarter. Riverwater Partners LLC now owns 12,597 shares of the company’s stock worth $1,663,000 after purchasing an additional 89 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Grand Canyon Education by 4.8% during the 4th quarter. Intech Investment Management LLC now owns 2,078 shares of the company’s stock worth $274,000 after purchasing an additional 96 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Grand Canyon Education by 15.2% during the 3rd quarter. Signaturefd LLC now owns 1,075 shares of the company’s stock worth $126,000 after purchasing an additional 142 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Grand Canyon Education Stock Performance

The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.19 and a beta of 0.60. The business’s 50-day moving average is $133.28 and its 200-day moving average is $132.36.

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.