Bridgepoint Education (BPI) Sees Strong Trading Volume
Bridgepoint Education Inc (NYSE:BPI) saw strong trading volume on Monday . 950,766 shares were traded during trading, an increase of 160% from the previous session’s volume of 365,093 shares.The stock last traded at $8.28 and had previously closed at $7.60.
A number of equities analysts have weighed in on the company. ValuEngine upgraded Bridgepoint Education from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $13.00 price objective on shares of Bridgepoint Education in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded Bridgepoint Education from a “sell” rating to a “hold” rating in a research note on Thursday, November 23rd.
The firm has a market capitalization of $222.21, a P/E ratio of 59.14, a price-to-earnings-growth ratio of 1.54 and a beta of 2.17.
Bridgepoint Education (NYSE:BPI) last posted its earnings results on Wednesday, October 25th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. Bridgepoint Education had a return on equity of 12.78% and a net margin of 0.49%. The firm had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $121.95 million. During the same period last year, the firm earned $0.09 EPS. The company’s quarterly revenue was down 12.6% on a year-over-year basis. sell-side analysts forecast that Bridgepoint Education Inc will post 0.61 EPS for the current year.
Bridgepoint Education announced that its board has approved a share buyback plan on Friday, November 17th that allows the company to buyback 2,100,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through a private placement purchase. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Andrew S. Clark sold 54,075 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $9.10, for a total transaction of $492,082.50. Following the sale, the chief executive officer now directly owns 146,806 shares in the company, valued at approximately $1,335,934.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pincus Private Equity Warburg sold 7,562,890 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $7.90, for a total value of $59,746,831.00. The disclosure for this sale can be found here. 41.50% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Bridgepoint Education by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,766,602 shares of the company’s stock valued at $26,076,000 after acquiring an additional 49,994 shares during the period. Renaissance Technologies LLC boosted its holdings in Bridgepoint Education by 15.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,507,558 shares of the company’s stock worth $22,252,000 after buying an additional 198,900 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Bridgepoint Education by 1.9% in the 3rd quarter. Schroder Investment Management Group now owns 895,097 shares of the company’s stock worth $8,673,000 after buying an additional 17,043 shares during the last quarter. State Street Corp boosted its holdings in Bridgepoint Education by 14.9% in the 2nd quarter. State Street Corp now owns 322,378 shares of the company’s stock worth $4,755,000 after buying an additional 41,767 shares during the last quarter. Finally, OxFORD Asset Management LLP boosted its holdings in Bridgepoint Education by 29.0% in the 3rd quarter. OxFORD Asset Management LLP now owns 245,066 shares of the company’s stock worth $2,375,000 after buying an additional 55,033 shares during the last quarter. Hedge funds and other institutional investors own 88.39% of the company’s stock.
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Bridgepoint Education Company Profile
Bridgepoint Education, Inc (Bridgepoint) is a provider of postsecondary education services. The Company’s academic institutions include Ashford University and University of the Rockies. Bridgepoint’s institutions conduct ongoing faculty and student assessment processes, and provide a range of student services.
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