Grand Canyon Education (NASDAQ:LOPE) Reaches New 12-Month High Following Better-Than-Expected Earnings

Grand Canyon Education, Inc. (NASDAQ:LOPE)’s share price hit a new 52-week high on Wednesday following a better than expected earnings announcement. The stock 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, beating the consensus estimate of $2.22 by $0.13. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The firm had revenue of $274.68 million for the quarter, compared to analysts’ expectations of $272.42 million. During the same quarter in the previous year, the firm posted $2.00 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

Analyst Ratings Changes

Several research firms have recently commented on LOPE. Robert W. Baird raised their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $160.00 price target on shares of Grand Canyon Education in a report on Thursday, April 18th.

Insider Buying and Selling

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the 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 sale, the chief technology officer now owns 25,674 shares in the company, valued at approximately $3,405,656.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of Grand Canyon Education

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Grand Canyon Education during the fourth quarter worth $54,000. Blue Trust Inc. boosted its stake in Grand Canyon Education by 120.2% in the 4th quarter. Blue Trust Inc. now owns 425 shares of the company’s stock worth $56,000 after buying an additional 232 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Grand Canyon Education by 208.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 429 shares of the company’s stock valued at $57,000 after buying an additional 290 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Grand Canyon Education by 41.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 497 shares of the company’s stock valued at $66,000 after acquiring an additional 145 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Grand Canyon Education during the 4th quarter worth about $101,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Grand Canyon Education Price Performance

The company’s 50-day moving average is $133.01 and its 200-day moving average is $132.26. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 22.76, a PEG 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.