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

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 for the quarter, beating the consensus estimate of $2.22 by $0.13. The firm had revenue of $274.68 million for the quarter, compared to analyst estimates of $272.42 million. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Robert W. Baird upped their target price on Grand Canyon Education from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barrington Research reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Grand Canyon Education in a report on Thursday, April 18th.

Insider Activity at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $132.65, for a total value of $198,975.00. Following the sale, the chief technology officer now owns 25,674 shares in the company, valued at $3,405,656.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Grand Canyon Education

A number of institutional investors have recently added to or reduced their stakes in LOPE. Alaska Permanent Fund Corp boosted its holdings in Grand Canyon Education by 8.3% during the fourth quarter. Alaska Permanent Fund Corp now owns 86,044 shares of the company’s stock valued at $11,361,000 after purchasing an additional 6,598 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Grand Canyon Education by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 19,049 shares of the company’s stock valued at $2,226,000 after acquiring an additional 85 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Grand Canyon Education in the 3rd quarter valued at $592,000. Sei Investments Co. grew its holdings in shares of Grand Canyon Education by 7.8% in the 3rd quarter. Sei Investments Co. now owns 168,209 shares of the company’s stock worth $19,660,000 after purchasing an additional 12,125 shares during the last quarter. Finally, Van Berkom & Associates Inc. increased its position in shares of Grand Canyon Education by 11.9% during the 3rd quarter. Van Berkom & Associates Inc. now owns 871,871 shares of the company’s stock worth $101,904,000 after purchasing an additional 92,445 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Trading Up 7.0 %

The stock has a market capitalization of $4.45 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.19 and a beta of 0.60. The firm’s fifty day moving average is $133.01 and its 200-day moving average is $132.26.

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.