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.
WARNING: “Bridgepoint Education Inc (BPI) Sees Significant Decrease in Short Interest” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/01/13/bridgepoint-education-inc-bpi-sees-significant-decline-in-short-interest.html.
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.
Receive News & Ratings for Bridgepoint Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bridgepoint Education and related companies with MarketBeat.com's FREE daily email newsletter.