Grand Canyon Education (NASDAQ:LOPE) Stock Price Down 4.5% - Here's What Happened

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report) shares were down 4.5% during mid-day trading on Monday . The stock traded as low as $187.72 and last traded at $185.45. Approximately 9,220 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 180,726 shares. The stock had previously closed at $194.20.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barrington Research lifted their price objective on Grand Canyon Education from $205.00 to $215.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. BMO Capital Markets lifted their price objective on Grand Canyon Education from $208.00 to $222.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Finally, Wall Street Zen cut Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Thursday, April 24th.

Grand Canyon Education Stock Performance

The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.42 and a beta of 0.79. The company has a fifty day simple moving average of $184.93 and a two-hundred day simple moving average of $175.97.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $289.31 million during the quarter, compared to analysts' expectations of $287.18 million. During the same period in the previous year, the firm earned $2.35 EPS. The company's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current year.

Institutional Trading of Grand Canyon Education

Several institutional investors and hedge funds have recently modified their holdings of LOPE. GeoWealth Management LLC bought a new stake in shares of Grand Canyon Education during the 4th quarter worth $25,000. SVB Wealth LLC bought a new stake in shares of Grand Canyon Education during the 1st quarter worth $26,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Grand Canyon Education during the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grand Canyon Education during the 1st quarter worth $35,000. Finally, WPG Advisers LLC bought a new stake in shares of Grand Canyon Education during the 1st quarter worth $44,000. 94.17% of the stock is currently owned by institutional investors.

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.