Grand Canyon Education (NASDAQ:LOPE) Hits New 52-Week High on Strong Earnings

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report)'s stock price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $156.56 and last traded at $151.21, with a volume of 93210 shares traded. 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. The business had revenue of $274.68 million during the quarter, compared to analysts' expectations of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 earnings per share.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Grand Canyon Education from $165.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday. BMO Capital Markets boosted their price target on Grand Canyon Education from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Barrington Research boosted their price target on Grand Canyon Education from $160.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday.

Insider Activity at Grand Canyon Education

In related news, CTO Dilek Marsh sold 1,500 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the sale, the chief technology officer now owns 25,674 shares in the company, valued at $3,405,656.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Trading of Grand Canyon Education

A number of hedge funds have recently bought and sold shares of LOPE. Alaska Permanent Fund Corp grew 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 during the period. Treasurer of the State of North Carolina grew its holdings in 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 purchasing an additional 85 shares during the period. Dark Forest Capital Management LP bought a new stake in Grand Canyon Education during the third quarter valued at about $592,000. Sei Investments Co. grew its holdings in Grand Canyon Education by 7.8% during the third quarter. Sei Investments Co. now owns 168,209 shares of the company's stock valued at $19,660,000 after purchasing an additional 12,125 shares during the period. Finally, Van Berkom & Associates Inc. grew its holdings in Grand Canyon Education by 11.9% during the third quarter. Van Berkom & Associates Inc. now owns 871,871 shares of the company's stock valued at $101,904,000 after purchasing an additional 92,445 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Grand Canyon Education Stock Up 5.2 %

The stock has a market cap of $4.38 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The business has a 50 day moving average price of $133.28 and a two-hundred day moving average price of $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.