Bridgepoint Education, Inc. (NYSE:BPI) – Analysts at Barrington Research lowered their FY2019 earnings estimates for Bridgepoint Education in a note issued to investors on Wednesday. Barrington Research analyst A. Paris. Jr now forecasts that the company will earn $0.70 per share for the year, down from their prior forecast of $0.72.
Other research analysts have also recently issued reports about the stock. Piper Jaffray Companies reissued a “hold” rating and issued a $16.00 price target on shares of Bridgepoint Education in a report on Friday, July 21st. BidaskClub cut shares of Bridgepoint Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine raised shares of Bridgepoint Education from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research cut shares of Bridgepoint Education from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.00.
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Bridgepoint Education (NYSE BPI) opened at 9.96 on Friday. Bridgepoint Education has a 52 week low of $6.34 and a 52 week high of $15.85. The company’s market capitalization is $289.72 million. The company’s 50-day moving average price is $9.07 and its 200 day moving average price is $11.76.
Bridgepoint Education (NYSE:BPI) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Bridgepoint Education had a negative net margin of 1.39% and a positive return on equity of 9.16%. The firm had revenue of $124.58 million for the quarter, compared to the consensus estimate of $127.00 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The company’s revenue was down 9.7% on a year-over-year basis.
A number of large investors have recently made changes to their positions in BPI. Acadian Asset Management LLC increased its stake in Bridgepoint Education by 396.8% in the second quarter. Acadian Asset Management LLC now owns 631,692 shares of the company’s stock valued at $9,325,000 after acquiring an additional 504,545 shares during the last quarter. AJO LP bought a new position in Bridgepoint Education in the second quarter valued at approximately $3,596,000. Renaissance Technologies LLC increased its stake in Bridgepoint Education by 15.2% in the second quarter. Renaissance Technologies LLC now owns 1,507,558 shares of the company’s stock valued at $22,252,000 after acquiring an additional 198,900 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Bridgepoint Education in the second quarter valued at approximately $2,685,000. Finally, OxFORD Asset Management LLP increased its stake in Bridgepoint Education by 524.3% in the second quarter. OxFORD Asset Management LLP now owns 190,033 shares of the company’s stock valued at $2,805,000 after acquiring an additional 159,592 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Andrew S. Clark sold 54,075 shares of Bridgepoint Education stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $8.83, for a total value of $477,482.25. Following the transaction, the chief executive officer now directly owns 146,806 shares of the company’s stock, valued at $1,296,296.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pincus Private Equity Warburg sold 2,075,395 shares of Bridgepoint Education stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $9.00, for a total transaction of $18,678,555.00. The disclosure for this sale can be found here. 41.50% of the stock is currently owned by company insiders.
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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