Grand Canyon Education (NASDAQ:LOPE) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $157.96 and traded as low as $157.22. Grand Canyon Education shares last traded at $157.31, with a volume of 232,872 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOPE. Wall Street Zen downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. BMO Capital Markets reduced their target price on shares of Grand Canyon Education from $185.00 to $182.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Grand Canyon Education in a report on Tuesday, September 22nd. Finally, Barrington Research set a $200.00 price target on shares of Grand Canyon Education in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.67.

Grand Canyon Education Stock Up 0.1%

The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.00 and a beta of 0.58. The company’s 50 day moving average is $153.80 and its 200 day moving average is $157.74.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.14. The business had revenue of $264.05 million during the quarter, compared to analysts’ expectations of $261.87 million. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 EPS. On average, analysts expect that Grand Canyon Education, Inc. will post 10.22 EPS for the current year.

Hedge Funds Weigh In On Grand Canyon Education

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG lifted its position in Grand Canyon Education by 48.9% during the first quarter. Leonteq Securities AG now owns 195 shares of the company’s stock worth $33,000 after purchasing an additional 64 shares during the period. Financial Life Planners bought a new position in shares of Grand Canyon Education in the 1st quarter valued at $33,000. Rockefeller Capital Management L.P. increased its holdings in Grand Canyon Education by 343.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 479 shares of the company’s stock worth $80,000 after purchasing an additional 371 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in Grand Canyon Education in the 2nd quarter worth about $82,000. Finally, Versant Capital Management Inc raised its position in Grand Canyon Education by 71.4% during the 3rd quarter. Versant Capital Management Inc now owns 617 shares of the company’s stock worth $94,000 after purchasing an additional 257 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc (NASDAQ: LOPE) is an education services company that provides technology, operational and support services to colleges and universities. Rather than operating primarily as a traditional university, the company partners with higher education institutions to help them deliver online, hybrid and campus-based academic programs.

Its services include learning technology, digital course development, data analytics, marketing, student enrollment and support, financial aid assistance, faculty support, and other administrative functions.