Barrington analyst Alexander Paris said Bridgepoint Education's repurchase of 2.1M shares from Warburg Pincus, in combination with the 5.5M shares sold by the firm to the public, eliminates the Warburg "overhang" on the stock while the buyback is also highly accretive to Bridgepoint EPS. The analyst, who raised his earnings estimates to reflect the repurchases, also thinks the deal suggests management and the board are comfortable with the fundamental direction of the business. Paris reiterates an Outperform rating and $17 price target on Bridgepoint.