Bridgepoint Education (BPI) Downgraded by Zacks Investment Research to “Hold”

Millennium Management LLC raised its position in shares of Bridgepoint Education by 1.3% in the 2nd quarter. Millennium Management LLC now …

Bridgepoint Education Inc logoZacks Investment Research cut shares of Bridgepoint Education (NYSE:BPI) from a buy rating to a hold rating in a research report report published on Friday.

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. “

BPI has been the subject of a number of other research reports. TheStreet lowered Bridgepoint Education from a b- rating to a c+ rating in a research report on Tuesday, November 27th. ValuEngine lowered Bridgepoint Education from a sell rating to a strong sell rating in a research report on Saturday, November 10th. Finally, Barrington Research set a $15.00 price target on Bridgepoint Education and gave the company a buy rating in a research report on Saturday, December 15th.

BPI stock traded up $0.16 during trading on Friday, hitting $9.45. 114,485 shares of the company traded hands, compared to its average volume of 127,412. The stock has a market capitalization of $256.49 million, a PE ratio of 16.02, a P/E/G ratio of 1.52 and a beta of 2.16. Bridgepoint Education has a 1 year low of $5.31 and a 1 year high of $13.63.

Several large investors have recently made changes to their positions in the company. PEAK6 Investments LLC raised its position in shares of Bridgepoint Education by 34.3% in the 4th quarter. PEAK6 Investments LLC now owns 13,428 shares of the company’s stock worth $94,000 after acquiring an additional 3,428 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bridgepoint Education by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 197,004 shares of the company’s stock worth $1,380,000 after acquiring an additional 4,819 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Bridgepoint Education by 36.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,066 shares of the company’s stock worth $275,000 after acquiring an additional 7,232 shares in the last quarter. Millennium Management LLC raised its position in shares of Bridgepoint Education by 1.3% in the 2nd quarter. Millennium Management LLC now owns 609,077 shares of the company’s stock worth $3,977,000 after acquiring an additional 7,855 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Bridgepoint Education by 19.3% in the 4th quarter. First Trust Advisors LP now owns 48,921 shares of the company’s stock worth $343,000 after acquiring an additional 7,930 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

About Bridgepoint Education

Bridgepoint Education, Inc, together with its subsidiaries, provides postsecondary education services in the United States. Its academic institutions, Ashford University and University of the Rockies, offer associate’s, bachelor’s, master’s, and doctoral degree programs in the disciplines of business, education, psychology, social sciences, and health sciences.

Further Reading: Straddles

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Bridgepoint Education Inc (BPI) Shares Bought by BlackRock Inc.

BlackRock Inc. grew its holdings in Bridgepoint Education Inc (NYSE:BPI) by 72.2% during the 3rd quarter, according to the company in its most recent …

Bridgepoint Education logoBlackRock Inc. grew its holdings in Bridgepoint Education Inc (NYSE:BPI) by 72.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 686,929 shares of the company’s stock after purchasing an additional 287,914 shares during the quarter. BlackRock Inc. owned about 2.55% of Bridgepoint Education worth $6,979,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Bridgepoint Education by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,124,741 shares of the company’s stock worth $13,875,000 after acquiring an additional 128,602 shares during the period. Renaissance Technologies LLC lifted its position in Bridgepoint Education by 27.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,094,558 shares of the company’s stock worth $7,147,000 after buying an additional 236,400 shares in the last quarter. Millennium Management LLC lifted its position in Bridgepoint Education by 1.3% during the 2nd quarter. Millennium Management LLC now owns 609,077 shares of the company’s stock worth $3,977,000 after buying an additional 7,855 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Bridgepoint Education during the 3rd quarter worth about $3,679,000. Finally, JPMorgan Chase & Co. lifted its position in Bridgepoint Education by 1,199.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 181,616 shares of the company’s stock worth $1,846,000 after buying an additional 167,635 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

BPI has been the topic of several analyst reports. Barrington Research reissued a “buy” rating on shares of Bridgepoint Education in a research report on Tuesday, January 8th. TheStreet cut shares of Bridgepoint Education from a “b-” rating to a “c+” rating in a research report on Tuesday, November 27th. ValuEngine raised shares of Bridgepoint Education from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research cut shares of Bridgepoint Education from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 14th.

Shares of BPI opened at $9.21 on Tuesday. Bridgepoint Education Inc has a 52 week low of $5.31 and a 52 week high of $13.63. The stock has a market capitalization of $240.48 million, a P/E ratio of 15.61, a P/E/G ratio of 1.44 and a beta of 2.16.

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About Bridgepoint Education

Bridgepoint Education, Inc, together with its subsidiaries, provides postsecondary education services in the United States. Its academic institutions, Ashford University and University of the Rockies, offer associate’s, bachelor’s, master’s, and doctoral degree programs in the disciplines of business, education, psychology, social sciences, and health sciences.

See Also: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for Bridgepoint Education (NYSE:BPI)

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Report: Howard Schultz put millions into controversial for-profit university

Schultz co-founded an investment capital group, Maveron, that put $7.5 million into for-profit Capella University in 2003, with a 2008 Securities and …
  • Former Starbucks CEO Howard Schultz speaks with moderator Monica Guzman, of the Evergrey,at a Town Hall about his potential Independent Presidental campaign,  Jan. 31, 2019. As he sends up trial balloon, the billionaire is coming under scrutiny over where Schultz has put his money. Photo: Genna Martin, Genna Martin, Seattlepi.com / SeattlePI
    Former Starbucks CEO Howard Schultz speaks with moderator Monica Guzman, of the Evergrey,at a Town Hall about his potential Independent Presidental campaign, Jan. 31, 2019. As he sends up trial balloon, the billionaire is coming under scrutiny over where Schultz has put his money. less
    Former Starbucks CEO Howard Schultz speaks with moderator Monica Guzman, of the Evergrey,at a Town Hall about his potential Independent Presidental campaign, Jan. 31, 2019. As he sends up trial balloon, … more

    Photo: Genna Martin, Genna Martin, Seattlepi.com

Photo: Genna Martin, Genna Martin, Seattlepi.com
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Former Starbucks CEO Howard Schultz speaks with moderator Monica Guzman, of the Evergrey,at a Town Hall about his potential Independent Presidental campaign, Jan. 31, 2019. As he sends up trial balloon, the billionaire is coming under scrutiny over where Schultz has put his money. less
Former Starbucks CEO Howard Schultz speaks with moderator Monica Guzman, of the Evergrey,at a Town Hall about his potential Independent Presidental campaign, Jan. 31, 2019. As he sends up trial balloon, … more

Photo: Genna Martin, Genna Martin, Seattlepi.com

Report: Howard Schultz put millions into controversial for-profit university
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Ex-Starbucks CEO Howard Schultz, pondering an independent run for President, has invited inquiry into where the billionaire coffee magnate has put his money.

Schultz co-founded an investment capital group, Maveron, that put $7.5 million into for-profit Capella University in 2003, with a 2008 Securities and Exchange Commission filing revealing that Schultz owned 50,000 shares of Capella stock.

The revelation, first reported by Politico, has implications back home in Seattle.

Attorney General Bob Ferguson and other AGs have gone after another for-profit, Corinthian Colleges, and Ferguson has championed legislation calling for a Student Loan Bill of Rights. The Washington AG’s office publishes a Student Loan Survival Guide.

In mid-2017, Ferguson demanded that U.S. Education Secretary Betsy DeVos end delays in canceling federal student loan forgiveness for thousands of Washingtonians victimized by predatory for-profit colleges.

RELATED: State college GOP Federation revokes recognition of far-right WSU group

In making Maveron a minority shareholder in Capella, Schultz said at the time: “Capella wants to transform education for working adults by making the online experience as compelling and rewarding as possible.”

Maveron severed its connection when the online university went public in 2006.

As Politico reported Wednesday, the Inspector General’s office did an audit of Capella in 2008 and found the university had overcharged the federal student aid program by $588,000 between 2002 and 2005. It recommended that the Federal Student Aid Office ask for the money back.

Capella responded that it had failed to return some money loaned to students who dropped out early, but pegged the amount at $278,000.

The Senate Health, Education, Labor and Pensions Committee (HELP), in a 2012 report, voiced “serious concern” at the dropout rate of Capella students, and noted “an unusually high portion of revenue on marketing and a relatively small amount on instruction for its exclusively online program.”

RELATED: Betsy DeVos vs. Patty Murray: Does nominee aim to privatize public education?

The Senate committee found that in 2009, Capella spent $1,650 per student on instruction, compared to $4,538 per student on marketing and $2,912 on profit.

It quoted from a “Sales Training Overview” to describe the school’s student recruiting strategy, telling recruiters:

“Dig deep into the prospect’s needs, goals, motivations, dreams, aspirations, etc. (uncovering the ‘why’). Use this information to position Capella as a solution.”

The report added: “Student complaints indicate dissatisfaction with the level of instruction at Capella.”

Sen. Patty Murray, D-Wash., is senior Democrat on the HELP Committee. She has been a strong critic of tactics used by some for-profit universities, and has argued that DeVos is too close to the industry. Murray has taken particular issue with treatment of veterans.

The for-profit higher education industry gets the vast majority of its income from federal student loans.

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BlackRock Inc. Has $6.98 Million Holdings in Bridgepoint Education Inc (BPI)

BlackRock Inc. raised its stake in Bridgepoint Education Inc (NYSE:BPI) by 72.2% during the third quarter, according to its most recent 13F filing with …

Bridgepoint Education logoBlackRock Inc. raised its stake in Bridgepoint Education Inc (NYSE:BPI) by 72.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 686,929 shares of the company’s stock after purchasing an additional 287,914 shares during the period. BlackRock Inc. owned about 2.55% of Bridgepoint Education worth $6,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BPI. Russell Investments Group Ltd. purchased a new position in shares of Bridgepoint Education in the 3rd quarter valued at about $197,000. Bank of New York Mellon Corp increased its holdings in shares of Bridgepoint Education by 36.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,066 shares of the company’s stock valued at $275,000 after acquiring an additional 7,232 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Bridgepoint Education by 143.0% in the 2nd quarter. Bank of America Corp DE now owns 49,136 shares of the company’s stock valued at $321,000 after acquiring an additional 28,918 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Bridgepoint Education by 32.2% in the 3rd quarter. First Trust Advisors LP now owns 40,991 shares of the company’s stock valued at $416,000 after acquiring an additional 9,991 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Bridgepoint Education in the 2nd quarter valued at about $571,000. 81.94% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on BPI shares. ValuEngine downgraded Bridgepoint Education from a “sell” rating to a “strong sell” rating in a report on Saturday, November 10th. TheStreet downgraded Bridgepoint Education from a “b-” rating to a “c+” rating in a report on Tuesday, November 27th. Barrington Research set a $15.00 price objective on Bridgepoint Education and gave the company a “buy” rating in a report on Saturday, December 15th. Finally, Zacks Investment Research upgraded Bridgepoint Education from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, October 9th.

BPI opened at $8.31 on Tuesday. Bridgepoint Education Inc has a one year low of $5.31 and a one year high of $13.63. The stock has a market capitalization of $220.67 million, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.32 and a beta of 2.16.

Bridgepoint Education (NYSE:BPI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The firm had revenue of $114.86 million for the quarter, compared to the consensus estimate of $117.25 million. Bridgepoint Education had a return on equity of 13.35% and a net margin of 3.96%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. As a group, sell-side analysts forecast that Bridgepoint Education Inc will post 0.71 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “BlackRock Inc. Has $6.98 Million Holdings in Bridgepoint Education Inc (BPI)” was first posted by Fairfield Current and is the property of of Fairfield Current. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.fairfieldcurrent.com/news/2019/02/05/blackrock-inc-has-6-98-million-holdings-in-bridgepoint-education-inc-bpi.html.

Bridgepoint Education Company Profile

Bridgepoint Education, Inc, together with its subsidiaries, provides postsecondary education services in the United States. Its academic institutions, Ashford University and University of the Rockies, offer associate’s, bachelor’s, master’s, and doctoral degree programs in the disciplines of business, education, psychology, social sciences, and health sciences.

Read More: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Bridgepoint Education (NYSE:BPI)

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