StockNews.com downgraded shares of Grand Canyon Education (NASDAQ:LOPE - Free Report) from a buy rating to a hold rating in a research report released on Friday morning.
A number of other analysts have also issued reports on LOPE. BMO Capital Markets raised their price target on Grand Canyon Education from $152.00 to $173.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Robert W. Baird raised their target price on shares of Grand Canyon Education from $170.00 to $186.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, Barrington Research upped their price target on shares of Grand Canyon Education from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th.
Get Our Latest Stock Analysis on Grand Canyon Education
Grand Canyon Education Stock Performance
Grand Canyon Education stock traded down $5.26 during midday trading on Friday, reaching $159.62. 333,625 shares of the company were exchanged, compared to its average volume of 183,291. The firm's 50-day simple moving average is $141.95 and its 200-day simple moving average is $142.73. Grand Canyon Education has a 1 year low of $118.48 and a 1 year high of $173.37. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 1.40 and a beta of 0.70.
Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.01. Grand Canyon Education had a net margin of 22.09% and a return on equity of 31.01%. The business had revenue of $238.30 million during the quarter, compared to analyst estimates of $239.69 million. During the same quarter in the previous year, the business posted $1.26 earnings per share. The company's revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Grand Canyon Education will post 8.03 EPS for the current fiscal year.
Insider Buying and Selling at Grand Canyon Education
In other news, CTO Dilek Marsh sold 1,500 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total transaction of $211,845.00. Following the transaction, the chief technology officer now directly owns 22,674 shares of the company's stock, valued at approximately $3,202,249.02. The trade was a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Grand Canyon Education
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Grand Canyon Education by 47.7% during the 2nd quarter. AQR Capital Management LLC now owns 538,532 shares of the company's stock valued at $74,452,000 after purchasing an additional 173,800 shares in the last quarter. FMR LLC lifted its stake in Grand Canyon Education by 12.0% in the third quarter. FMR LLC now owns 1,323,406 shares of the company's stock valued at $187,725,000 after buying an additional 141,648 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Grand Canyon Education by 78.5% during the first quarter. Acadian Asset Management LLC now owns 308,357 shares of the company's stock valued at $41,977,000 after acquiring an additional 135,626 shares during the period. Renaissance Technologies LLC grew its position in shares of Grand Canyon Education by 41.0% during the second quarter. Renaissance Technologies LLC now owns 285,057 shares of the company's stock worth $39,882,000 after acquiring an additional 82,855 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Grand Canyon Education by 89.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,075 shares of the company's stock worth $24,215,000 after acquiring an additional 81,853 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.
Grand Canyon Education Company Profile
(
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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.
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