Piper Jaffray Companies Reiterates “Hold” Rating for Bridgepoint Education, Inc. (BPI)
Bridgepoint Education, Inc. (NYSE:BPI)‘s stock had its “hold” rating reissued by investment analysts at Piper Jaffray Companies in a research report issued on Friday. They presently have a $16.00 price target on the stock. Piper Jaffray Companies’ price target would suggest a potential upside of 18.43% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Bridgepoint Education from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, May 2nd. BidaskClub lowered shares of Bridgepoint Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 6th.
Shares of Bridgepoint Education (BPI) traded down 1.17% during midday trading on Friday, reaching $13.51. 176,118 shares of the company were exchanged. Bridgepoint Education has a 52-week low of $5.38 and a 52-week high of $15.85. The company’s market capitalization is $388.91 million. The stock has a 50-day moving average price of $14.12 and a 200 day moving average price of $12.04.
Bridgepoint Education (NYSE:BPI) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $0.23 earnings per share (EPS) for the quarter. Bridgepoint Education had a negative net margin of 1.92% and a positive return on equity of 7.58%. The firm had revenue of $129.49 million for the quarter, compared to analyst estimates of $125 million. Equities research analysts expect that Bridgepoint Education will post $0.61 EPS for the current fiscal year.
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In other news, CEO Andrew S. Clark sold 54,076 shares of the business’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 transaction, the chief executive officer now directly owns 146,807 shares in the company, valued at approximately $2,034,745.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Russell Sakamoto sold 5,796 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $14.89, for a total transaction of $86,302.44. Following the transaction, the insider now owns 14,885 shares in the company, valued at $221,637.65. The disclosure for this sale can be found here. Insiders sold a total of 64,096 shares of company stock worth $899,578 over the last quarter. Company insiders own 41.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Bridgepoint Education by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,716,608 shares of the company’s stock valued at $18,316,000 after buying an additional 104,839 shares in the last quarter. Vanguard Group Inc. raised its position in Bridgepoint Education by 6.2% in the first quarter. Vanguard Group Inc. now owns 1,469,422 shares of the company’s stock valued at $15,679,000 after buying an additional 85,909 shares in the last quarter. Renaissance Technologies LLC raised its position in Bridgepoint Education by 5.2% in the first quarter. Renaissance Technologies LLC now owns 1,308,658 shares of the company’s stock valued at $13,963,000 after buying an additional 64,200 shares in the last quarter. Schroder Investment Management Group raised its position in Bridgepoint Education by 25.7% in the first quarter. Schroder Investment Management Group now owns 1,093,548 shares of the company’s stock valued at $11,690,000 after buying an additional 223,452 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its position in Bridgepoint Education by 24.6% in the first quarter. Donald Smith & CO. Inc. now owns 528,108 shares of the company’s stock valued at $5,635,000 after buying an additional 104,348 shares in the last quarter. Institutional investors own 91.77% 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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