Grand Canyon Education, Inc. (NASDAQ:LOPE) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, July 19th.
A number of other equities analysts have also recently weighed in on LOPE. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, May 23rd. Barrington Research upped their price target on shares of Grand Canyon Education from $68.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, ValuEngine raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $77.75.
Grand Canyon Education (NASDAQ LOPE) traded up 1.61% during trading on Wednesday, reaching $72.76. 394,360 shares of the company’s stock traded hands. The stock has a market cap of $3.42 billion, a P/E ratio of 21.48 and a beta of 1.49. The firm’s 50 day moving average price is $78.10 and its 200-day moving average price is $70.76. Grand Canyon Education has a one year low of $39.07 and a one year high of $83.00.
Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.11. Grand Canyon Education had a net margin of 17.97% and a return on equity of 21.53%. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $244.64 million. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Grand Canyon Education will post $3.66 earnings per share for the current fiscal year.
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In other Grand Canyon Education news, Director Jack A. Henry sold 3,200 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $78.12, for a total value of $249,984.00. Following the transaction, the director now directly owns 15,459 shares in the company, valued at approximately $1,207,657.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph N. Mildenhall sold 6,345 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $79.65, for a total transaction of $505,379.25. Following the completion of the transaction, the insider now owns 96,728 shares in the company, valued at $7,704,385.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,461 shares of company stock worth $15,462,932. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOPE. FMR LLC boosted its position in Grand Canyon Education by 36.9% in the first quarter. FMR LLC now owns 4,428,918 shares of the company’s stock worth $317,155,000 after buying an additional 1,192,591 shares during the period. Vanguard Group Inc. boosted its position in Grand Canyon Education by 5.5% in the first quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock worth $270,343,000 after buying an additional 197,721 shares during the period. BlackRock Inc. boosted its position in Grand Canyon Education by 73,121.4% in the first quarter. BlackRock Inc. now owns 2,817,560 shares of the company’s stock worth $201,765,000 after buying an additional 2,813,712 shares during the period. William Blair Investment Management LLC boosted its position in Grand Canyon Education by 1,271.1% in the first quarter. William Blair Investment Management LLC now owns 1,608,593 shares of the company’s stock worth $115,191,000 after buying an additional 1,491,274 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Grand Canyon Education by 12.9% in the first quarter. Alliancebernstein L.P. now owns 1,563,010 shares of the company’s stock worth $111,927,000 after buying an additional 178,288 shares during the period. Institutional investors own 96.00% of the company’s stock.
About Grand Canyon Education
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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