Bridgepoint Education Inc (BPI) Sees Significant Decrease in Short Interest

Bridgepoint Education Inc (NYSE:BPI) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 624,015 shares, a decline of 48.3% from the November 15th total of 1,206,267 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily volume of 716,921 shares, the days-to-cover ratio is currently 0.9 days.

Shares of Bridgepoint Education (BPI) traded down $0.06 during mid-day trading on Friday, reaching $8.56. The company had a trading volume of 104,642 shares, compared to its average volume of 326,072. The firm has a market cap of $250.28, a PE ratio of 61.14, a PEG ratio of 1.74 and a beta of 2.17. Bridgepoint Education has a 1 year low of $7.53 and a 1 year high of $15.85.

Bridgepoint Education (NYSE:BPI) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $121.95 million. Bridgepoint Education had a return on equity of 12.78% and a net margin of 0.49%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. equities research analysts forecast that Bridgepoint Education will post 0.61 EPS for the current year.

Bridgepoint Education declared that its Board of Directors has initiated a stock buyback plan on Friday, November 17th that authorizes the company to repurchase 2,100,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through a private placement purchase. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Several research firms have recently weighed in on BPI. ValuEngine raised Bridgepoint Education from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Piper Jaffray Companies reissued a “hold” rating and issued a $13.00 target price on shares of Bridgepoint Education in a report on Friday, October 27th. Finally, Zacks Investment Research raised Bridgepoint Education from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd.

In related news, Director Pincus Private Equity Warburg sold 7,562,890 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Clark sold 54,075 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $9.10, for a total value of $492,082.50. Following the transaction, the chief executive officer now directly owns 146,806 shares of the company’s stock, valued at $1,335,934.60. The disclosure for this sale can be found here. Insiders own 41.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. increased its position in Bridgepoint Education by 158.1% during the 2nd quarter. Prudential Financial Inc. now owns 35,759 shares of the company’s stock worth $528,000 after purchasing an additional 21,902 shares during the period. Goldman Sachs Group Inc. increased its position in Bridgepoint Education by 50.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 131,350 shares of the company’s stock worth $1,939,000 after purchasing an additional 43,980 shares during the period. TIAA CREF Investment Management LLC increased its position in Bridgepoint Education by 76.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 163,601 shares of the company’s stock worth $2,415,000 after purchasing an additional 70,873 shares during the period. Nationwide Fund Advisors increased its position in Bridgepoint Education by 61.8% during the 2nd quarter. Nationwide Fund Advisors now owns 70,998 shares of the company’s stock worth $1,048,000 after purchasing an additional 27,107 shares during the period. Finally, Wells Fargo & Company MN increased its position in Bridgepoint Education by 585.1% during the 2nd quarter. Wells Fargo & Company MN now owns 82,552 shares of the company’s stock worth $1,219,000 after purchasing an additional 70,503 shares during the period. 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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