Grand Canyon Education (NASDAQ:LOPE) Hits New 52-Week High on Better-Than-Expected Earnings

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $185.66 and last traded at $185.52, with a volume of 174970 shares trading hands. The stock had previously closed at $183.70.

The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.02. The firm had revenue of $292.57 million during the quarter, compared to the consensus estimate of $289.62 million. Grand Canyon Education had a net margin of 21.90% and a return on equity of 30.91%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LOPE shares. Barrington Research raised their price target on shares of Grand Canyon Education from $180.00 to $205.00 and gave the company an "outperform" rating in a research note on Thursday. BMO Capital Markets lifted their target price on shares of Grand Canyon Education from $181.00 to $202.00 and gave the stock an "outperform" rating in a research note on Friday. Robert W. Baird lifted 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 note on Thursday, November 7th. Finally, StockNews.com downgraded shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Friday, November 15th.

Insider Buying and Selling at Grand Canyon Education

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $166.07, for a total value of $249,105.00. Following the completion of the sale, the chief technology officer now directly owns 21,174 shares of the company's stock, valued at approximately $3,516,366.18. The trade was a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GeoWealth Management LLC acquired a new position in shares of Grand Canyon Education during the fourth quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Grand Canyon Education during the fourth quarter worth about $27,000. Reston Wealth Management LLC purchased a new position in Grand Canyon Education during the third quarter worth about $28,000. True Wealth Design LLC purchased a new position in Grand Canyon Education during the third quarter worth about $31,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Grand Canyon Education during the fourth quarter worth about $32,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Price Performance

The firm has a market capitalization of $5.30 billion, a PE ratio of 23.48, a PEG ratio of 1.39 and a beta of 0.74. The firm's fifty day moving average is $170.74 and its two-hundred day moving average is $155.40.

Grand Canyon Education Company Profile

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.