Adtalem Global Education Inc. (NYSE:ATGE) Short Interest Down 34.2% in May

Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,040,000 shares, a drop of 34.2% from the May 15th total of 1,580,000 shares. Based on an average trading volume of 539,900 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 price target for the company. Barrington Research lifted their target price on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. BMO Capital Markets boosted their target price on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Wall Street Zen cut Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th.

Adtalem Global Education Price Performance

NYSE ATGE traded up $0.47 on Friday, hitting $124.97. 950,322 shares of the company were exchanged, compared to its average volume of 493,187. The firm has a 50 day moving average of $119.87 and a two-hundred day moving average of $105.32. The company has a market cap of $4.66 billion, a P/E ratio of 20.72, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Adtalem Global Education has a 1-year low of $63.58 and a 1-year high of $140.12.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.29. The business had revenue of $466.06 million for the quarter, compared to analysts' expectations of $447.19 million. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 earnings per share. On average, equities analysts predict that Adtalem Global Education will post 6.2 EPS for the current year.

Adtalem Global Education announced that its board has approved a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the transaction, the director now owns 9,368 shares in the company, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Adtalem Global Education

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATGE. Fifth Third Bancorp grew its position in shares of Adtalem Global Education by 56.8% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after buying an additional 104 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of Adtalem Global Education in the 1st quarter valued at approximately $31,000. Parkside Financial Bank & Trust boosted its stake in Adtalem Global Education by 4,850.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 792 shares of the company's stock worth $72,000 after acquiring an additional 776 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Adtalem Global Education by 196.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock valued at $86,000 after purchasing an additional 634 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in Adtalem Global Education by 774.8% during the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock valued at $88,000 after purchasing an additional 860 shares during the period. Institutional investors own 98.84% of the company's stock.

About Adtalem Global Education

Adtalem Global Education Inc provides workforce solutions worldwide. It operates through three segments, Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers degree and non-degree programs in the nursing and health professions postsecondary education industry. This segment operates Chamberlain University.