BidaskClub upgraded shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) from a sell rating to a hold rating in a report issued on Monday, August 7th.
Several other research analysts also recently commented on LOPE. Barrington Research reaffirmed an outperform rating and set a $89.00 target price (up from $85.00) on shares of Grand Canyon Education in a report on Wednesday, August 2nd. Zacks Investment Research raised Grand Canyon Education from a hold rating to a buy rating and set a $90.00 target price on the stock in a report on Thursday, August 3rd. Finally, ValuEngine raised Grand Canyon Education from a hold rating to a buy rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Grand Canyon Education currently has a consensus rating of Buy and a consensus price target of $78.50.
Shares of Grand Canyon Education (LOPE) traded up 0.82% during trading on Monday, hitting $80.01. The stock had a trading volume of 410,061 shares. Grand Canyon Education has a one year low of $39.07 and a one year high of $85.94. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 22.08 and a beta of 1.48. The stock has a 50 day moving average price of $77.90 and a 200-day moving average price of $72.93.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $218.30 million for the quarter, compared to analyst estimates of $213.08 million. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. Grand Canyon Education’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, equities research analysts predict that Grand Canyon Education will post $3.83 earnings per share for the current year.
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In other news, COO William Stan Meyer sold 20,000 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $77.14, for a total value of $1,542,800.00. Following the transaction, the chief operating officer now directly owns 118,459 shares of the company’s stock, valued at approximately $9,137,927.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian E. Mueller sold 29,788 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $77.12, for a total value of $2,297,250.56. Following the completion of the transaction, the chief executive officer now directly owns 311,312 shares in the company, valued at $24,008,381.44. The disclosure for this sale can be found here. Insiders have sold a total of 130,231 shares of company stock worth $10,207,539 over the last ninety days. Company insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Grand Canyon Education by 46.5% in the first quarter. Bank of New York Mellon Corp now owns 542,318 shares of the company’s stock worth $38,835,000 after buying an additional 172,256 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Grand Canyon Education during the first quarter worth about $3,012,000. State Board of Administration of Florida Retirement System increased its position in shares of Grand Canyon Education by 18.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 39,504 shares of the company’s stock worth $2,829,000 after buying an additional 6,050 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Grand Canyon Education by 32.9% in the first quarter. Great West Life Assurance Co. Can now owns 5,254 shares of the company’s stock worth $375,000 after buying an additional 1,300 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Grand Canyon Education by 299.1% in the first quarter. Russell Investments Group Ltd. now owns 152,391 shares of the company’s stock worth $10,912,000 after buying an additional 114,210 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors.
Grand Canyon Education Company Profile
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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