Grand Canyon Education (NASDAQ:LOPE) Stock Price Breaks Above 200-Day Moving Average – Here’s What Happened

Shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $154.23 and traded as high as $160.48. Grand Canyon Education shares last traded at $160.30, with a volume of 321,529 shares.

Wall Street Analysts Forecast Growth

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

Grand Canyon Education Price Performance

The company has a 50-day moving average of $150.30 and a two-hundred day moving average of $154.27. The stock has a market capitalization of $4.17 billion, a PE ratio of 19.32, a P/E/G ratio of 1.05 and a beta of 0.58.

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

Hedge Funds Weigh In On Grand Canyon Education

Several hedge funds and other institutional investors have recently made changes to their positions in LOPE. Financial Life Planners acquired a new position in shares of Grand Canyon Education in the first quarter worth about $33,000. Leonteq Securities AG raised its position in shares of Grand Canyon Education by 48.9% in the 1st quarter. Leonteq Securities AG now owns 195 shares of the company’s stock valued at $33,000 after purchasing an additional 64 shares in the last quarter. Sankala Group LLC acquired a new position in shares of Grand Canyon Education in the 4th quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised its holdings in Grand Canyon Education by 525.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 225 shares of the company’s stock valued at $37,000 after acquiring an additional 189 shares in the last quarter. Finally, Bayban acquired a new stake in Grand Canyon Education in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

About Grand Canyon Education

Grand Canyon Education, Inc is an education services company that provides technology, academic, operational and support services to postsecondary institutions. The company helps partner universities deliver traditional, online and hybrid degree programs, with services spanning student enrollment, counseling, marketing, curriculum development, faculty support, technology infrastructure and field-experience coordination.

Grand Canyon Education was established in 2003 and was historically associated with Grand Canyon University, a private university based in Phoenix, Arizona.