Grand Canyon Education (NASDAQ:LOPE) Trading Down 6.7% – Here’s Why

Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) traded down 6.7% during trading on Friday . The company traded as low as $193.37 and last traded at $192.9750. 143,583 shares traded hands during trading, a decline of 34% from the average session volume of 218,632 shares. The stock had previously closed at $206.79.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Zacks Research lowered Grand Canyon Education from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen raised Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Barrington Research reiterated an “outperform” rating and set a $230.00 target price on shares of Grand Canyon Education in a report on Tuesday, October 21st. BMO Capital Markets cut their price target on shares of Grand Canyon Education from $222.00 to $210.00 and set an “outperform” rating on the stock in a report on Monday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Grand Canyon Education in a research report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Grand Canyon Education currently has a consensus rating of “Moderate Buy” and an average price target of $208.67.

Grand Canyon Education Stock Down 8.9%

The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 0.76. The business has a 50 day moving average price of $209.71 and a 200-day moving average price of $193.73.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.37 by $0.16. The firm had revenue of $247.50 million for the quarter, compared to analyst estimates of $240.90 million. Grand Canyon Education had a return on equity of 31.50% and a net margin of 22.15%.Grand Canyon Education’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 EPS. Research analysts anticipate that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grand Canyon Education

Large investors have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC purchased a new stake in shares of Grand Canyon Education during the first quarter worth about $232,000. Voya Investment Management LLC grew its stake in Grand Canyon Education by 25.0% during the 1st quarter. Voya Investment Management LLC now owns 59,459 shares of the company’s stock valued at $10,288,000 after purchasing an additional 11,908 shares in the last quarter. Informed Momentum Co LLC acquired a new stake in Grand Canyon Education during the 1st quarter valued at approximately $3,721,000. Evergreen Capital Management LLC purchased a new stake in Grand Canyon Education during the 1st quarter worth approximately $317,000. Finally, Jump Financial LLC raised its position in shares of Grand Canyon Education by 1,292.6% in the 1st quarter. Jump Financial LLC now owns 24,329 shares of the company’s stock valued at $4,209,000 after purchasing an additional 22,582 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.