Grand Canyon Education Inc (LOPE) CEO Sells $3,810,000.00 in Stock

Grand Canyon Education Inc (NASDAQ:LOPE) CEO Brian E. Mueller sold 30,000 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $127.00, for a total value of $3,810,000.00. Following the completion of the sale, the chief executive officer now directly owns 308,739 shares of the company’s stock, valued at $39,209,853. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

LOPE stock traded down $1.16 during midday trading on Wednesday, reaching $124.84. The company had a trading volume of 519,849 shares, compared to its average volume of 371,353. The company has a quick ratio of 4.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.05. Grand Canyon Education Inc has a fifty-two week low of $85.14 and a fifty-two week high of $130.10. The company has a market cap of $6.11 billion, a P/E ratio of 31.53, a PEG ratio of 1.63 and a beta of 0.79.

Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Thursday, November 8th. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. Grand Canyon Education had a return on equity of 21.66% and a net margin of 23.60%. The company had revenue of $155.45 million during the quarter, compared to the consensus estimate of $153.31 million. During the same period in the previous year, the firm posted $0.81 earnings per share. Grand Canyon Education’s quarterly revenue was down 34.2% compared to the same quarter last year. Analysts expect that Grand Canyon Education Inc will post 4.88 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Waddell & Reed Financial Inc. acquired a new position in Grand Canyon Education in the second quarter valued at approximately $51,907,000. Handelsbanken Fonder AB boosted its stake in Grand Canyon Education by 2.2% in the third quarter. Handelsbanken Fonder AB now owns 1,215,290 shares of the company’s stock valued at $137,085,000 after acquiring an additional 26,000 shares during the period. GSA Capital Partners LLP acquired a new position in Grand Canyon Education in the second quarter valued at approximately $2,345,000. Yorktown Management & Research Co Inc acquired a new position in Grand Canyon Education in the second quarter valued at approximately $335,000. Finally, State of Alaska Department of Revenue acquired a new position in Grand Canyon Education in the second quarter valued at approximately $639,000. Institutional investors own 94.62% of the company’s stock.

Several brokerages recently weighed in on LOPE. Zacks Investment Research raised Grand Canyon Education from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a report on Tuesday. BidaskClub lowered Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. BMO Capital Markets boosted their price objective on Grand Canyon Education from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. Robert W. Baird boosted their price objective on Grand Canyon Education from $125.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, November 9th. Finally, Barrington Research lifted their target price on Grand Canyon Education from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 9th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $141.40.

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About Grand Canyon Education

Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.

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