Grand Canyon Education Inc. (LOPE) Sees Large Volume Increase
Grand Canyon Education Inc. (NASDAQ:LOPE) saw unusually-high trading volume on Wednesday . Approximately 594,858 shares traded hands during trading, an increase of 149% from the previous session’s volume of 238,611 shares.The stock last traded at $42.86 and had previously closed at $43.75.
LOPE has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Grand Canyon Education in a research note on Tuesday, May 10th. Finally, Piper Jaffray Cos. raised their price objective on shares of Grand Canyon Education from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Seven research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $49.71.
The company’s 50-day moving average is $41.29 and its 200-day moving average is $41.04. The firm has a market capitalization of $1.98 billion and a price-to-earnings ratio of 14.15.
Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.05. During the same period in the prior year, the firm earned $0.55 earnings per share. The business earned $191.30 million during the quarter, compared to the consensus estimate of $189.09 million. The business’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that Grand Canyon Education Inc. will post $3.08 earnings per share for the current fiscal year.
In other Grand Canyon Education news, CFO Daniel E. Bachus sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $41.64, for a total value of $728,700.00. Following the completion of the sale, the chief financial officer now directly owns 127,860 shares of the company’s stock, valued at $5,324,090.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO William Stan Meyer sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $41.64, for a total transaction of $1,041,000.00. Following the completion of the sale, the chief operating officer now directly owns 127,862 shares of the company’s stock, valued at $5,324,173.68. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of the company. Morgan Stanley increased its stake in Grand Canyon Education by 136.2% in the fourth quarter. Morgan Stanley now owns 30,202 shares of the company’s stock valued at $1,211,000 after buying an additional 17,418 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Grand Canyon Education by 1.7% in the fourth quarter. Nationwide Fund Advisors now owns 30,900 shares of the company’s stock worth $1,240,000 after buying an additional 504 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Grand Canyon Education by 6.0% in the fourth quarter. New York State Common Retirement Fund now owns 45,600 shares of the company’s stock worth $1,829,000 after buying an additional 2,600 shares during the last quarter. Russell Frank Co boosted its stake in shares of Grand Canyon Education by 1.8% in the fourth quarter. Russell Frank Co now owns 70,816 shares of the company’s stock worth $2,873,000 after buying an additional 1,242 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Grand Canyon Education by 5.8% in the fourth quarter. Bank of Montreal Can now owns 229,872 shares of the company’s stock worth $9,222,000 after buying an additional 12,557 shares during the last quarter.
Grand Canyon Education, Inc is a regionally accredited university. The Company offers approximately 200 graduate and undergraduate degree programs and certificates across approximately eight colleges both online and on ground in Phoenix, Arizona and at leased facilities and at facilities owned by third-party employers of its students.
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