Zacks Investment Research lowered shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) from a buy rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Grand Canyon Education, Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education, business, and healthcare. In addition to its online programs, it offers programs at its traditional campus in Phoenix, Arizona and onsite at the facilities of employers. “
Several other equities research analysts have also weighed in on LOPE. BidaskClub lowered Grand Canyon Education from a strong-buy rating to a buy rating in a report on Tuesday, June 27th. Barrington Research restated an outperform rating and issued a $89.00 target price (up from $85.00) on shares of Grand Canyon Education in a report on Wednesday, August 2nd. ValuEngine upgraded Grand Canyon Education from a hold rating to a buy rating in a report on Friday, September 1st. Finally, BMO Capital Markets reiterated a buy rating and set a $85.00 price target on shares of Grand Canyon Education in a report on Monday, September 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $84.25.
Shares of Grand Canyon Education (NASDAQ LOPE) traded up 0.30% during mid-day trading on Wednesday, reaching $89.49. 177,024 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $83.78 and a 200-day moving average price of $78.22. Grand Canyon Education has a 1-year low of $40.02 and a 1-year high of $93.08. The company has a market capitalization of $4.23 billion, a P/E ratio of 24.70 and a beta of 1.39.
Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The firm had revenue of $218.30 million during the quarter, compared to analyst estimates of $213.08 million. During the same period in the previous year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Grand Canyon Education will post $3.83 earnings per share for the current fiscal year.
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In other news, insider Joseph N. Mildenhall sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $80.17, for a total transaction of $400,850.00. Following the completion of the transaction, the insider now directly owns 88,798 shares in the company, valued at $7,118,935.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO William Stan Meyer sold 20,000 shares of the company’s stock in a transaction that occurred on 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 owns 118,459 shares of the company’s stock, valued at $9,137,927.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,231 shares of company stock valued at $5,128,139. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Grand Canyon Education by 36.9% during the first quarter. FMR LLC now owns 4,428,918 shares of the company’s stock worth $317,155,000 after buying an additional 1,192,591 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Grand Canyon Education by 1.5% during the second quarter. Vanguard Group Inc. now owns 3,831,950 shares of the company’s stock worth $300,462,000 after buying an additional 56,722 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Grand Canyon Education by 4.4% during the second quarter. BlackRock Inc. now owns 2,941,225 shares of the company’s stock worth $230,620,000 after buying an additional 123,665 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Grand Canyon Education by 27.7% during the second quarter. William Blair Investment Management LLC now owns 2,054,139 shares of the company’s stock worth $161,065,000 after buying an additional 445,546 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Grand Canyon Education by 15.7% during the second quarter. Alliancebernstein L.P. now owns 1,808,294 shares of the company’s stock worth $141,788,000 after buying an additional 245,284 shares during the last quarter. Institutional investors own 96.57% of the company’s stock.
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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