Short Interest in Grand Canyon Education, Inc. (NASDAQ:LOPE) Decreases By 16.2%

Grand Canyon Education, Inc. (NASDAQ:LOPE) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 310,900 shares, a drop of 16.2% from the June 30th total of 370,800 shares. Based on an average trading volume of 188,600 shares, the short-interest ratio is currently 1.6 days. Approximately 1.1% of the shares of the stock are sold short.

Grand Canyon Education Price Performance

Shares of LOPE traded up $2.45 during trading hours on Tuesday, hitting $155.30. 98,242 shares of the stock were exchanged, compared to its average volume of 191,811. Grand Canyon Education has a fifty-two week low of $106.75 and a fifty-two week high of $156.56. The business has a 50-day moving average of $143.05 and a 200-day moving average of $136.55. The firm has a market capitalization of $4.62 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.13. Grand Canyon Education had a return on equity of 31.81% and a net margin of 21.66%. The firm had revenue of $274.68 million during the quarter, compared to analyst estimates of $272.42 million. During the same period last year, the company posted $2.00 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that Grand Canyon Education will post 7.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LOPE shares. BMO Capital Markets boosted their target price on shares of Grand Canyon Education from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. Barrington Research raised their target price on Grand Canyon Education from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird upped their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th.

Insiders Place Their Bets

In other news, insider Kathy J. Claypatch sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $149.20, for a total transaction of $223,800.00. Following the completion of the sale, the insider now directly owns 8,320 shares in the company, valued at approximately $1,241,344. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Kathy J. Claypatch sold 1,500 shares of Grand Canyon Education stock in a transaction on Friday, May 10th. The stock was sold at an average price of $149.20, for a total value of $223,800.00. Following the transaction, the insider now owns 8,320 shares in the company, valued at approximately $1,241,344. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lisa Graham Keegan sold 270 shares of Grand Canyon Education stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $147.96, for a total value of $39,949.20. Following the completion of the transaction, the director now owns 2,635 shares in the company, valued at approximately $389,874.60. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Grand Canyon Education

A number of institutional investors and hedge funds have recently modified their holdings of LOPE. Versant Capital Management Inc increased its position in Grand Canyon Education by 14,150.0% in the 2nd quarter. Versant Capital Management Inc now owns 285 shares of the company’s stock valued at $40,000 after buying an additional 283 shares in the last quarter. GAMMA Investing LLC bought a new stake in Grand Canyon Education in the 4th quarter worth about $54,000. Blue Trust Inc. lifted its position in shares of Grand Canyon Education by 120.2% during the 4th quarter. Blue Trust Inc. now owns 425 shares of the company’s stock worth $56,000 after buying an additional 232 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Grand Canyon Education by 208.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 429 shares of the company’s stock valued at $57,000 after acquiring an additional 290 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Grand Canyon Education by 41.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 497 shares of the company’s stock worth $66,000 after acquiring an additional 145 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Grand Canyon Education Company Profile

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.