Grand Canyon Education (NASDAQ:LOPE) Trading 4.5% Higher - Should You Buy?

Key Points

• Grand Canyon Education shares rose 4.5% to about $153.33 in mid-day trading, although trading volume was 70% below the average session level.
• Analyst sentiment remains cautiously positive: the stock has a “Moderate Buy” consensus rating and an average price target of $161.67, despite some recent rating downgrades and target reductions.
• The company exceeded quarterly earnings and revenue expectations, reporting $1.81 EPS and $264.05 million in revenue, while quarterly revenue increased 6.7% year over year. Institutional investors own approximately 94.17% of the shares.

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report)'s share price traded up 4.5% during mid-day trading on Wednesday . The stock traded as high as $152.34 and last traded at $153.3340. Approximately 93,116 shares were traded during trading, a decline of 70% from the average session volume of 310,673 shares. The stock had previously closed at $146.78.

Analyst Ratings Changes

LOPE has been the topic of several recent research reports. Wall Street Zen lowered Grand Canyon Education from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. BMO Capital Markets decreased their price objective on Grand Canyon Education from $198.00 to $185.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Truist Financial set a $100.00 price objective on shares of Grand Canyon Education in a report on Tuesday, June 9th. Barrington Research set a $200.00 price objective on shares of Grand Canyon Education in a research report on Friday, July 31st. Finally, Weiss Ratings cut Grand Canyon Education from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Grand Canyon Education currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.67.

Grand Canyon Education Price Performance

The company's 50 day simple moving average is $147.87 and its two-hundred day simple moving average is $155.21. The company has a market cap of $3.94 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.58.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.14. The firm had revenue of $264.05 million for the quarter, compared to the consensus estimate of $261.87 million. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 EPS. Sell-side analysts expect that Grand Canyon Education, Inc. will post 10.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Grand Canyon Education

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Security National Bank of Sioux City Iowa IA grew its position in shares of Grand Canyon Education by 37.9% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 15,074 shares of the company's stock worth $2,157,000 after acquiring an additional 4,145 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Grand Canyon Education by 13.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,490 shares of the company's stock worth $356,000 after purchasing an additional 298 shares during the last quarter. Tidal Investments LLC grew its position in Grand Canyon Education by 353.0% during the 2nd quarter. Tidal Investments LLC now owns 12,778 shares of the company's stock worth $1,829,000 after purchasing an additional 9,957 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of Grand Canyon Education by 37.7% in the second quarter. Engineers Gate Manager LP now owns 46,565 shares of the company's stock valued at $6,664,000 after buying an additional 12,744 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Grand Canyon Education by 330.8% in the second quarter. Squarepoint Ops LLC now owns 8,314 shares of the company's stock valued at $1,190,000 after buying an additional 6,384 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

About Grand Canyon Education

Grand Canyon Education, Inc is an education services company that provides technology, operational and support solutions to colleges and universities. Its services are designed to help partner institutions deliver traditional, online and hybrid academic programs while managing student recruitment, enrollment and ongoing support.

The company's offerings include learning-management and information-technology systems, marketing and student outreach, academic counseling, finance and accounting support, faculty and curriculum services, and data analytics.

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