Grand Canyon Education Inc. (NASDAQ:LOPE) Director Brent D. Richardson sold 55,000 shares of Grand Canyon Education stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $48.04, for a total transaction of $2,642,200.00. Following the sale, the director now owns 1,793 shares of the company’s stock, valued at $86,135.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Grand Canyon Education Inc. (NASDAQ:LOPE) opened at 54.00 on Monday. Grand Canyon Education Inc. has a one year low of $31.12 and a one year high of $54.80. The company has a 50-day moving average of $42.96 and a 200 day moving average of $42.06. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 18.31 and a beta of 1.26.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Wednesday, November 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $210.40 million for the quarter, compared to analyst estimates of $206.21 million. Grand Canyon Education had a net margin of 16.42% and a return on equity of 21.10%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. On average, equities analysts forecast that Grand Canyon Education Inc. will post $3.13 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Grand Canyon Education (NASDAQ:LOPE)

LOPE has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Saturday, November 5th. Credit Suisse Group AG reiterated a “buy” rating and issued a $62.00 target price on shares of Grand Canyon Education in a research note on Tuesday, September 13th. Finally, Piper Jaffray Cos. boosted their target price on shares of Grand Canyon Education from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Six equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $50.33.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Grand Canyon Education by 127.0% in the first quarter. BlackRock Inc. now owns 3,153 shares of the company’s stock worth $135,000 after buying an additional 1,764 shares during the period. BlackRock Group LTD raised its position in shares of Grand Canyon Education by 28.5% in the first quarter. BlackRock Group LTD now owns 26,461 shares of the company’s stock worth $1,131,000 after buying an additional 5,865 shares during the period. State Street Corp raised its position in shares of Grand Canyon Education by 2.4% in the first quarter. State Street Corp now owns 869,253 shares of the company’s stock worth $37,150,000 after buying an additional 20,003 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Grand Canyon Education by 550.0% in the first quarter. UBS Asset Management Americas Inc. now owns 192,404 shares of the company’s stock worth $8,223,000 after buying an additional 162,802 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Grand Canyon Education by 363.8% in the first quarter. Goldman Sachs Group Inc. now owns 180,000 shares of the company’s stock worth $7,693,000 after buying an additional 141,194 shares during the period.

About Grand Canyon Education

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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