Bridgepoint Education (BPI) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bridgepoint Education (NYSE:BPI) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $9.50 price objective on the stock.

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. “

A number of other brokerages have also commented on BPI. ValuEngine upgraded Bridgepoint Education from a hold rating to a buy rating in a research note on Monday, October 2nd. Piper Jaffray Companies restated a hold rating and issued a $13.00 target price on shares of Bridgepoint Education in a research note on Friday, October 27th.

Bridgepoint Education (NYSE BPI) opened at $8.16 on Tuesday. The company has a market capitalization of $238.58, a price-to-earnings ratio of 58.29, a P/E/G ratio of 1.61 and a beta of 2.17. Bridgepoint Education has a 12 month low of $7.53 and a 12 month high of $15.85.

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

Bridgepoint Education declared that its board has initiated a stock repurchase program on Friday, November 17th that authorizes the company to buyback 2,100,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through a private placement purchase. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Bridgepoint Education news, Director Pincus Private Equity Warburg sold 7,562,890 shares of the 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew S. Clark sold 54,075 shares of the 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 owns 146,806 shares of the company’s stock, valued at $1,335,934.60. The disclosure for this sale can be found here. Corporate insiders own 41.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in BPI. Macquarie Group Ltd. acquired a new position in Bridgepoint Education during the third quarter worth $108,000. Highbridge Capital Management LLC acquired a new stake in shares of Bridgepoint Education in the third quarter valued at $122,000. Wedge Capital Management L L P NC increased its stake in shares of Bridgepoint Education by 60.5% in the third quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the company’s stock valued at $168,000 after buying an additional 6,606 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Bridgepoint Education in the second quarter valued at $176,000. Finally, PEAK6 Investments L.P. acquired a new stake in shares of Bridgepoint Education in the third quarter valued at $232,000. 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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