Grand Canyon Education (NASDAQ:LOPE) Stock Price Down 3.3% - Here's Why

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report)'s share price traded down 3.3% during trading on Tuesday . The stock traded as low as $193.35 and last traded at $194.15. 49,770 shares changed hands during trading, a decline of 72% from the average session volume of 179,205 shares. The stock had previously closed at $200.76.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LOPE shares. Barrington Research increased their price target on Grand Canyon Education from $205.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. BMO Capital Markets increased their target price on shares of Grand Canyon Education from $208.00 to $222.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, 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.

Grand Canyon Education Price Performance

The firm has a fifty day simple moving average of $183.65 and a 200-day simple moving average of $175.11. The firm has a market cap of $5.41 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.42 and a beta of 0.80.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.06. Grand Canyon Education had a return on equity of 30.67% and a net margin of 21.90%. The company had revenue of $289.31 million for the quarter, compared to analysts' expectations of $287.18 million. During the same period last year, the business earned $2.35 EPS. Grand Canyon Education's quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Strs Ohio bought a new position in shares of Grand Canyon Education in the first quarter valued at approximately $1,729,000. Foresight Group Ltd Liability Partnership bought a new position in Grand Canyon Education during the 1st quarter valued at $14,408,000. Geneos Wealth Management Inc. lifted its position in shares of Grand Canyon Education by 46.8% during the first quarter. Geneos Wealth Management Inc. now owns 791 shares of the company's stock valued at $137,000 after purchasing an additional 252 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Grand Canyon Education during the first quarter valued at about $229,000. Finally, Jane Street Group LLC lifted its position in shares of Grand Canyon Education by 156.9% during the first quarter. Jane Street Group LLC now owns 37,350 shares of the company's stock valued at $6,462,000 after purchasing an additional 22,812 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

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.