Bridgepoint Education Inc (BPI) Position Raised by State Street Corp
State Street Corp increased its position in shares of Bridgepoint Education Inc (NYSE:BPI) by 14.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,378 shares of the company’s stock after purchasing an additional 41,767 shares during the period. State Street Corp owned 1.11% of Bridgepoint Education worth $4,755,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. American International Group Inc. increased its holdings in shares of Bridgepoint Education by 7.1% in the first quarter. American International Group Inc. now owns 10,991 shares of the company’s stock valued at $117,000 after buying an additional 728 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Bridgepoint Education by 542.3% in the first quarter. Bank of America Corp DE now owns 15,761 shares of the company’s stock valued at $168,000 after buying an additional 13,307 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Bridgepoint Education in the second quarter valued at $176,000. Valley National Advisers Inc. increased its holdings in shares of Bridgepoint Education by 21.9% in the second quarter. Valley National Advisers Inc. now owns 13,480 shares of the company’s stock valued at $199,000 after buying an additional 2,420 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new position in shares of Bridgepoint Education in the second quarter valued at $219,000. 88.47% of the stock is currently owned by hedge funds and other institutional investors.
Bridgepoint Education Inc (BPI) opened at $8.88 on Wednesday. Bridgepoint Education Inc has a 52-week low of $8.18 and a 52-week high of $15.85. The firm has a market cap of $261.68, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.47 and a beta of 2.17.
Bridgepoint Education (NYSE:BPI) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Bridgepoint Education had a net margin of 0.49% and a return on equity of 12.78%. The firm had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $121.95 million. During the same period in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. sell-side analysts expect that Bridgepoint Education Inc will post 0.61 EPS for the current year.
Bridgepoint Education declared that its board has approved a stock repurchase plan on Friday, November 17th that authorizes the company to buyback 2,100,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through a private placement purchase. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Bridgepoint Education news, CEO Andrew S. Clark sold 54,075 shares of Bridgepoint Education stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $9.10, for a total transaction of $492,082.50. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director Pincus Private Equity Warburg sold 7,562,890 shares of Bridgepoint Education stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $7.90, for a total transaction of $59,746,831.00. The disclosure for this sale can be found here. Insiders own 41.50% of the company’s stock.
BPI has been the topic of several research reports. Zacks Investment Research raised Bridgepoint Education from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. ValuEngine cut Bridgepoint Education from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $13.00 price target on shares of Bridgepoint Education in a report on Friday, October 27th.
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About Bridgepoint Education
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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