Bridgepoint Education, Inc. (BPI) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Bridgepoint Education, Inc. (NYSE:BPI) from a strong-buy rating to a hold rating in a research note published on Tuesday, July 4th.

According to Zacks, “Bridgepoint Education, Inc. provides postsecondary education services. It offers associate’s, bachelor’s, master’s, and doctoral programs in the disciplines of business, education, psychology, social sciences, and health sciences. The Company delivers its programs online, as well as at its traditional campuses located in Clinton, Iowa and Colorado Springs, Colorado. Headquartered in San Diego, California, the company was founded on the principle that those who are academically prepared deserve access to an affordable higher education without sacrificing quality, transferability of credits, accessibility and academic standards. “

Bridgepoint Education (NYSE:BPI) traded down 0.10% on Tuesday, hitting $9.75. 351,846 shares of the stock traded hands. The stock has a 50 day moving average of $13.80 and a 200 day moving average of $12.11. The firm’s market capitalization is $283.61 million. Bridgepoint Education has a 52 week low of $5.38 and a 52 week high of $15.85.

Bridgepoint Education (NYSE:BPI) last announced its earnings results on Wednesday, July 26th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $124.58 million during the quarter, compared to analysts’ expectations of $127 million. Bridgepoint Education had a negative net margin of 1.39% and a positive return on equity of 9.16%. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Equities research analysts anticipate that Bridgepoint Education will post $0.55 earnings per share for the current year.

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In related news, CEO Andrew S. Clark sold 54,076 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $13.86, for a total transaction of $749,493.36. Following the completion of the sale, the chief executive officer now owns 146,807 shares in the company, valued at $2,034,745.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Russell Sakamoto sold 4,224 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.10, for a total transaction of $63,782.40. Following the sale, the chief accounting officer now owns 4,865 shares of the company’s stock, valued at approximately $73,461.50. The disclosure for this sale can be found here. Insiders have sold 64,096 shares of company stock valued at $899,578 in the last 90 days. 41.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Bridgepoint Education by 4.6% in the fourth quarter. State Street Corp now owns 274,676 shares of the company’s stock valued at $2,780,000 after buying an additional 12,149 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Bridgepoint Education by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,611,769 shares of the company’s stock valued at $16,328,000 after buying an additional 54,721 shares during the last quarter. Renaissance Technologies LLC increased its position in Bridgepoint Education by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,244,458 shares of the company’s stock valued at $12,606,000 after buying an additional 164,800 shares during the last quarter. Two Sigma Investments LP increased its position in Bridgepoint Education by 16.6% in the fourth quarter. Two Sigma Investments LP now owns 127,856 shares of the company’s stock valued at $1,295,000 after buying an additional 18,243 shares during the last quarter. Finally, Boothbay Fund Management LLC increased its position in Bridgepoint Education by 2.8% in the fourth quarter. Boothbay Fund Management LLC now owns 11,149 shares of the company’s stock valued at $113,000 after buying an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.

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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