Russell Investments Group Ltd. trimmed its position in Bridgepoint Education Inc (NYSE:BPI) by 57.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,352 shares of the company’s stock after selling 65,704 shares during the quarter. Russell Investments Group Ltd. owned 0.17% of Bridgepoint Education worth $473,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. grew its stake in shares of Bridgepoint Education by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 84,063 shares of the company’s stock worth $1,241,000 after buying an additional 399 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Bridgepoint Education by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 16,403 shares of the company’s stock worth $242,000 after buying an additional 1,071 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Bridgepoint Education by 60.5% during the third quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the company’s stock worth $168,000 after buying an additional 6,606 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Bridgepoint Education by 44.8% during the second quarter. New York State Common Retirement Fund now owns 22,300 shares of the company’s stock worth $329,000 after buying an additional 6,899 shares during the last quarter. Finally, Alliancebernstein L.P. bought a new stake in shares of Bridgepoint Education during the second quarter worth $176,000. 88.39% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on BPI shares. ValuEngine raised shares of Bridgepoint Education from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Bridgepoint Education from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Tuesday, December 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 target price on shares of Bridgepoint Education in a research note on Friday, October 27th.
Bridgepoint Education (NYSE:BPI) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Bridgepoint Education had a net margin of 0.49% and a return on equity of 12.78%. The company had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $121.95 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Bridgepoint Education’s revenue for the quarter was down 12.6% on a year-over-year basis. equities analysts anticipate that Bridgepoint Education Inc will post 0.61 earnings per share for the current fiscal year.
Bridgepoint Education declared that its board has initiated a stock repurchase plan on Friday, November 17th that permits the company to repurchase 2,100,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through a private placement purchase. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Andrew S. Clark sold 54,075 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were 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 in the company, valued at $1,335,934.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Pincus Private Equity Warburg sold 7,562,890 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $7.90, for a total transaction of $59,746,831.00. The disclosure for this sale can be found here. Insiders own 41.50% of the company’s stock.
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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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