Chicago Equity Partners LLC lessened its stake in Bridgepoint Education Inc (NYSE:BPI) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,284 shares of the company’s stock after selling 65,235 shares during the period. Chicago Equity Partners LLC’s holdings in Bridgepoint Education were worth $1,106,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new stake in Bridgepoint Education in the 3rd quarter worth approximately $108,000. Alliancebernstein L.P. purchased a new stake in Bridgepoint Education in the 2nd quarter worth approximately $176,000. Highbridge Capital Management LLC purchased a new stake in Bridgepoint Education in the 3rd quarter worth approximately $122,000. The Manufacturers Life Insurance Company boosted its position in Bridgepoint Education by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,403 shares of the company’s stock worth $242,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in Bridgepoint Education by 60.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 17,525 shares of the company’s stock worth $168,000 after purchasing an additional 6,606 shares in the last quarter. Institutional investors and hedge funds own 87.69% of the company’s stock.
Bridgepoint Education Inc (NYSE BPI) opened at $7.20 on Friday. Bridgepoint Education Inc has a 52-week low of $7.02 and a 52-week high of $15.85. The stock has a market capitalization of $211.10, a P/E ratio of 10.62, a PEG ratio of 1.46 and a beta of 2.06.
Bridgepoint Education declared that its Board of Directors has authorized a share repurchase plan on Friday, November 17th that permits the company to repurchase 2,100,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through a private placement purchase. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
BPI has been the topic of several recent research reports. Zacks Investment Research upgraded Bridgepoint Education from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Tuesday, December 26th. Piper Jaffray Companies reiterated a “hold” rating and set a $13.00 target price on shares of Bridgepoint Education in a research report on Friday, October 27th. Finally, ValuEngine lowered Bridgepoint Education from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd.
In other Bridgepoint Education news, CEO Andrew S. Clark sold 54,075 shares of the firm’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 owns 146,806 shares in the company, valued at approximately $1,335,934.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pincus Private Equity Warburg sold 7,562,890 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $7.90, for a total value of $59,746,831.00. The disclosure for this sale can be found here. Company 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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