Grand Canyon Education, Inc. (NASDAQ:LOPE – Get Free Report) shares rose 4.5% during mid-day trading on Wednesday. The stock traded as high as $152.34 and last traded at $153.3340. 93,116 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 310,673 shares. The stock had previously closed at $146.78.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on LOPE shares. Wall Street Zen downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Grand Canyon Education in a research report on Tuesday. BMO Capital Markets cut their target price on shares of Grand Canyon Education from $198.00 to $185.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. Barrington Research set a $200.00 price objective on Grand Canyon Education in a research note on Friday, July 31st. Finally, Truist Financial set a $100.00 price target on Grand Canyon Education in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.67.
Check Out Our Latest Analysis on LOPE
Grand Canyon Education Stock Performance
Grand Canyon Education (NASDAQ:LOPE – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.14. Grand Canyon Education had a return on equity of 36.62% and a net margin of 19.63%.The company had revenue of $264.05 million for the quarter, compared to analysts’ expectations of $261.87 million. During the same period in the prior year, the firm earned $1.53 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts forecast that Grand Canyon Education, Inc. will post 10.22 earnings per share for the current year.
Institutional Investors Weigh In On Grand Canyon Education
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Grand Canyon Education in the 2nd quarter valued at $397,654,000. William Blair Investment Management LLC acquired a new position in shares of Grand Canyon Education during the second quarter worth $148,667,000. Norges Bank acquired a new position in shares of Grand Canyon Education during the fourth quarter worth $61,919,000. Jupiter Topco LLC purchased a new position in Grand Canyon Education in the second quarter valued at $42,939,000. Finally, Reinhart Partners LLC. raised its stake in Grand Canyon Education by 135.3% in the fourth quarter. Reinhart Partners LLC. now owns 518,914 shares of the company’s stock valued at $86,303,000 after buying an additional 298,409 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.
About Grand Canyon Education
Grand Canyon Education, Inc is an education services company that provides technology, operational and support solutions to colleges and universities. Its services are designed to help partner institutions deliver traditional, online and hybrid academic programs while managing student recruitment, enrollment and ongoing support.
The company’s offerings include learning-management and information-technology systems, marketing and student outreach, academic counseling, finance and accounting support, faculty and curriculum services, and data analytics.
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