Acadian Asset Management LLC increased its position in Bridgepoint Education, Inc. (NYSE:BPI) by 396.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 631,692 shares of the company’s stock after buying an additional 504,545 shares during the period. Acadian Asset Management LLC owned approximately 2.19% of Bridgepoint Education worth $9,325,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. American International Group Inc. raised its stake in Bridgepoint Education by 7.1% in the first quarter. American International Group Inc. now owns 10,991 shares of the company’s stock worth $117,000 after buying an additional 728 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in Bridgepoint Education during the fourth quarter worth $118,000. Valley National Advisers Inc. raised its stake in Bridgepoint Education by 45.1% in the first quarter. Valley National Advisers Inc. now owns 11,060 shares of the company’s stock worth $118,000 after buying an additional 3,440 shares in the last quarter. Brandes Investment Partners LP raised its stake in Bridgepoint Education by 14.6% in the first quarter. Brandes Investment Partners LP now owns 12,891 shares of the company’s stock worth $138,000 after buying an additional 1,646 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in Bridgepoint Education during the first quarter worth $148,000. Institutional investors own 91.89% of the company’s stock.
Shares of Bridgepoint Education, Inc. (NYSE:BPI) traded up 0.92% during mid-day trading on Friday, hitting $8.75. The stock had a trading volume of 376,807 shares. Bridgepoint Education, Inc. has a 12 month low of $5.38 and a 12 month high of $15.85. The firm’s market cap is $254.52 million. The stock’s 50-day moving average is $11.73 and its 200 day moving average is $11.96.
Bridgepoint Education (NYSE:BPI) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $124.58 million during the quarter, compared to analysts’ expectations of $127 million. During the same period last year, the firm earned $0.12 earnings per share. Bridgepoint Education’s revenue was down 9.7% on a year-over-year basis. Equities research analysts predict that Bridgepoint Education, Inc. will post $0.64 earnings per share for the current fiscal year.
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A number of analysts have weighed in on BPI shares. ValuEngine upgraded Bridgepoint Education from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Bridgepoint Education from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, May 2nd. BidaskClub lowered Bridgepoint Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $16.00 price objective on shares of Bridgepoint Education in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.00.
In related news, CEO Andrew S. Clark sold 54,075 shares of the business’s stock in a transaction 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 completion of the sale, 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 filing with the SEC, which is available through this hyperlink. Also, Director Pincus Private Equity Warburg sold 2,075,395 shares of the business’s stock in a transaction 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. Over the last three months, insiders sold 2,183,546 shares of company stock valued at $19,905,531. 41.50% of the stock is owned by corporate 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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