Grand Canyon Education Inc. (LOPE) Sees Unusually-High Trading Volume
Grand Canyon Education Inc. (NASDAQ:LOPE) shares saw an uptick in trading volume on Friday . 386,482 shares changed hands during mid-day trading, an increase of 55% from the previous session’s volume of 249,649 shares.The stock last traded at $42.55 and had previously closed at $42.25.
A number of research firms have commented on LOPE. Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, August 9th. Piper Jaffray Cos. raised their price target 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. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Grand Canyon Education in a report on Tuesday, May 10th. Six research analysts have rated the stock with a buy rating, Grand Canyon Education has a consensus rating of “Buy” and an average price target of $49.67.
The stock’s 50-day moving average price is $41.96 and its 200 day moving average price is $41.29. The firm has a market capitalization of $1.97 billion and a PE ratio of 14.12.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.05. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The business earned $191.30 million during the quarter, compared to the consensus estimate of $189.09 million. The company’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Grand Canyon Education Inc. will post $3.08 EPS for the current fiscal year.
In related news, insider Joseph N. Mildenhall sold 22,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $43.36, for a total transaction of $953,920.00. Following the completion of the sale, the insider now directly owns 123,514 shares in the company, valued at approximately $5,355,567.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO William Stan Meyer sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $43.32, for a total transaction of $1,083,000.00. Following the sale, the chief operating officer now owns 126,862 shares of the company’s stock, valued at $5,495,661.84. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Grand Canyon Education stock. Russell Frank Co boosted its position in shares of Grand Canyon Education Inc. (NASDAQ:LOPE) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,816 shares of the company’s stock after buying an additional 1,242 shares during the period. Russell Frank Co owned approximately 0.15% of Grand Canyon Education worth $2,873,000 at the end of the most recent 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.