Shares of Grand Canyon Education Inc. (NASDAQ:LOPE) have earned an average recommendation of “Buy” from the six ratings firms that are covering the firm. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $49.67.
A number of research firms have commented on LOPE. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, August 9th. Credit Suisse Group AG reissued a “buy” rating and set a $62.00 price target on shares of Grand Canyon Education in a research report on Tuesday. Finally, Piper Jaffray Cos. increased their price target on shares of Grand Canyon Education from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th.
In other news, CFO Daniel E. Bachus sold 17,500 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $43.31, for a total transaction of $757,925.00. Following the sale, the chief financial officer now owns 126,360 shares of the company’s stock, valued at $5,472,651.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian E. Mueller sold 100,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $43.09, for a total transaction of $4,309,000.00. Following the sale, the chief executive officer now directly owns 388,090 shares in the company, valued at approximately $16,722,798.10. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP raised its stake in Grand Canyon Education by 5,425.0% in the second quarter. Quantbot Technologies LP now owns 2,652 shares of the company’s stock worth $105,000 after buying an additional 2,604 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Grand Canyon Education by 629.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,087 shares of the company’s stock worth $123,000 after buying an additional 2,664 shares during the last quarter. BlackRock Inc. raised its stake in Grand Canyon Education by 127.0% in the first quarter. BlackRock Inc. now owns 3,153 shares of the company’s stock worth $135,000 after buying an additional 1,764 shares during the last quarter. FineMark National Bank & Trust raised its stake in Grand Canyon Education by 1.0% in the second quarter. FineMark National Bank & Trust now owns 4,079 shares of the company’s stock worth $163,000 after buying an additional 42 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new stake in Grand Canyon Education during the second quarter worth $188,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.
Grand Canyon Education (NASDAQ:LOPE) opened at 40.71 on Monday. The stock has a market cap of $1.88 billion, a P/E ratio of 13.44 and a beta of 1.10. The firm’s 50-day moving average is $41.15 and its 200-day moving average is $41.88. Grand Canyon Education has a 52-week low of $31.12 and a 52-week high of $45.02.
Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. Grand Canyon Education had a net margin of 17.25% and a return on equity of 22.53%. The company had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.09 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Grand Canyon Education’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts predict that Grand Canyon Education will post $3.08 earnings per share for the current year.