Grand Canyon Education (NASDAQ:LOPE) Hits New 1-Year High on Earnings Beat

Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $156.56 and last traded at $151.21, with a volume of 93210 shares changing hands. The stock had previously closed at $139.78.

The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. The company had revenue of $274.68 million for the quarter, compared to analysts’ expectations of $272.42 million. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. Grand Canyon Education’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barrington Research upped their target price on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, BMO Capital Markets upped their target price on shares of Grand Canyon Education from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday.

Insider Buying and Selling at Grand Canyon Education

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the transaction, the chief technology officer now owns 25,674 shares in the company, valued at approximately $3,405,656.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Grand Canyon Education

Several institutional investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina lifted its stake in shares of Grand Canyon Education by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 19,049 shares of the company’s stock worth $2,226,000 after purchasing an additional 85 shares during the period. Wealth Alliance lifted its stake in shares of Grand Canyon Education by 3.9% in the 4th quarter. Wealth Alliance now owns 2,277 shares of the company’s stock worth $301,000 after purchasing an additional 85 shares during the period. Riverwater Partners LLC lifted its stake in shares of Grand Canyon Education by 0.7% in the 4th quarter. Riverwater Partners LLC now owns 12,597 shares of the company’s stock worth $1,663,000 after purchasing an additional 89 shares during the period. Intech Investment Management LLC lifted its stake in shares of Grand Canyon Education by 4.8% in the 4th quarter. Intech Investment Management LLC now owns 2,078 shares of the company’s stock worth $274,000 after purchasing an additional 96 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Grand Canyon Education by 15.2% in the 3rd quarter. Signaturefd LLC now owns 1,075 shares of the company’s stock worth $126,000 after purchasing an additional 142 shares during the period. Institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Stock Performance

The company’s fifty day moving average is $133.57 and its 200-day moving average is $132.48. The company has a market capitalization of $4.45 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

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.