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Bridgepoint Education Shares Surge on Ashford University Accreditation (BPI)

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Shares of Bridgepoint Education Inc. (NYSE: BPI), a provider of postsecondary education services, are seeing a huge rally in trading today after the company said that its Ashford University was granted initial accreditation for five years by the Accrediting Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges (WASC). BPI also provided outlook for the second quarter.

WASC’s has a rigorous review process for accrediting universities, which includes multiple visits by representatives of the accrediting body. In their final report, the WASC’s visiting team said that found an institution that has been fundamentally transformed and whose culture has been changed in significant ways, including a shift from market driven approach to an institution committed to student retention and success.

Andrew Clark, CEO of Bridgepoint, said that the company appreciates WASC’s recognition of Ashford University’s efforts and know that those same efforts will benefit students through both the ongoing and new initiatives Ashford has implemented throughout the process.

Bridgepoint also provided its outlook for the second quarter. The company noted that during the second quarter it made operating cost reductions to better align with reduced total enrollment. For the second quarter, the company expects total ending enrollments to be between 71,000 and 72,000. Revenue for the quarter is expected to be between $195.5 million and $199.5 million. Diluted earnings per share for the second quarter are expected to between $0.16 and $0.20.

Shares of Bridgepoint Education have surged in trading today. At last check, the stock was trading 20.30% higher at $15.17 on above average volume of 3.10 million. The stock hit a 52-week high of $16.75 earlier today.








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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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