Renaissance Technologies LLC Acquires 198,900 Shares of Bridgepoint Education, Inc. (BPI)
Renaissance Technologies LLC increased its holdings in shares of Bridgepoint Education, Inc. (NYSE:BPI) by 15.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,507,558 shares of the company’s stock after buying an additional 198,900 shares during the period. Renaissance Technologies LLC owned 5.18% of Bridgepoint Education worth $22,252,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of BPI. Nationwide Fund Advisors raised its stake in shares of Bridgepoint Education by 38.7% during the first quarter. Nationwide Fund Advisors now owns 43,891 shares of the company’s stock worth $468,000 after buying an additional 12,251 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Bridgepoint Education during the first quarter worth approximately $386,000. Bank of New York Mellon Corp raised its stake in shares of Bridgepoint Education by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 86,258 shares of the company’s stock worth $921,000 after buying an additional 3,292 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Bridgepoint Education during the first quarter worth approximately $148,000. Finally, Blair William & Co. IL raised its stake in shares of Bridgepoint Education by 71.5% during the first quarter. Blair William & Co. IL now owns 25,309 shares of the company’s stock worth $270,000 after buying an additional 10,549 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.
Shares of Bridgepoint Education, Inc. (NYSE:BPI) opened at 10.00 on Wednesday. The company’s market capitalization is $290.88 million. The company’s 50 day moving average is $9.13 and its 200-day moving average is $11.77. Bridgepoint Education, Inc. has a 1-year low of $6.34 and a 1-year high of $15.85.
Bridgepoint Education (NYSE:BPI) last posted its earnings results on Wednesday, July 26th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Bridgepoint Education had a positive return on equity of 9.16% and a negative net margin of 1.39%. The business had revenue of $124.58 million for the quarter, compared to analyst estimates of $127.00 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. On average, equities research analysts forecast that Bridgepoint Education, Inc. will post $0.64 EPS for the current year.
In related news, CEO Andrew S. Clark sold 54,075 shares of Bridgepoint Education stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $8.83, for a total transaction of $477,482.25. Following the sale, the chief executive officer now directly owns 146,806 shares in the company, valued at approximately $1,296,296.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pincus Private Equity Warburg sold 2,075,395 shares of Bridgepoint Education stock in a transaction that occurred on Friday, August 18th. The stock was 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. 41.50% of the stock is owned by company insiders.
BPI has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Bridgepoint Education from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. ValuEngine downgraded shares of Bridgepoint Education from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Piper Jaffray Companies reissued a “hold” rating and set a $14.00 price target on shares of Bridgepoint Education in a research note on Friday, July 28th. Finally, BidaskClub downgraded shares of Bridgepoint Education from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.00.
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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