Grand Canyon Education, Inc. (NASDAQ:LOPE) Sees Large Decline in Short Interest

Key Points

• Grand Canyon Education, Inc. experienced a 24.7% decline in short interest during August, reducing the total short interest to 354,300 shares, which constitutes approximately 1.3% of its total shares.
• Several institutional investors significantly increased their stakes in Grand Canyon Education, with notable transactions including a new stake of approximately $65.7 million by Norges Bank and a massive 22,988.8% stake increase by GAMMA Investing LLC.
• Wall Street analysts have a consensus rating of "Buy" for Grand Canyon Education, with a target price of $203.67, following recent upgrades and target adjustments from various brokerages.

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 354,300 shares, a decline of 24.7% from the August 15th total of 470,500 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 252,200 shares, the short-interest ratio is presently 1.4 days. Based on an average daily trading volume, of 252,200 shares, the short-interest ratio is presently 1.4 days. Currently, 1.3% of the shares of the company are sold short.

Grand Canyon Education Trading Up 0.3%

NASDAQ LOPE traded up $0.65 on Friday, reaching $209.82. The company's stock had a trading volume of 594,668 shares, compared to its average volume of 201,531. The firm has a market cap of $5.89 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. The business has a 50-day moving average price of $191.09 and a 200 day moving average price of $184.95. Grand Canyon Education has a 52 week low of $130.69 and a 52 week high of $211.31.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.16. The business had revenue of $247.50 million for the quarter, compared to analysts' expectations of $240.90 million. Grand Canyon Education had a net margin of 22.15% and a return on equity of 31.50%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Analysts anticipate that Grand Canyon Education will post 8.81 earnings per share for the current fiscal year.

Institutional Trading of Grand Canyon Education

Several large investors have recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. grew its stake in Grand Canyon Education by 3.9% during the second quarter. Burgundy Asset Management Ltd. now owns 982,698 shares of the company's stock worth $185,730,000 after buying an additional 36,546 shares during the last quarter. AQR Capital Management LLC grew its stake in Grand Canyon Education by 3.5% during the second quarter. AQR Capital Management LLC now owns 597,567 shares of the company's stock worth $112,940,000 after buying an additional 20,485 shares during the last quarter. Invesco Ltd. grew its stake in Grand Canyon Education by 57.5% during the second quarter. Invesco Ltd. now owns 560,068 shares of the company's stock worth $105,853,000 after buying an additional 204,582 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Grand Canyon Education by 12.9% during the second quarter. Los Angeles Capital Management LLC now owns 407,282 shares of the company's stock worth $76,976,000 after buying an additional 46,457 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Grand Canyon Education by 1.7% during the second quarter. Allianz Asset Management GmbH now owns 392,672 shares of the company's stock worth $74,215,000 after buying an additional 6,428 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LOPE. Wall Street Zen raised Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barrington Research reaffirmed an "outperform" rating and issued a $215.00 price target on shares of Grand Canyon Education in a report on Thursday, August 7th. Finally, BMO Capital Markets dropped their price target on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a report on Monday, July 7th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $203.67.

About Grand Canyon Education

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.