Adtalem Global Education Inc. (NYSE:ATGE) Shares Bought by Comerica Bank

Comerica Bank boosted its position in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,904 shares of the company's stock after acquiring an additional 5,298 shares during the quarter. Comerica Bank owned 0.12% of Adtalem Global Education worth $4,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in shares of Adtalem Global Education in the 4th quarter valued at $35,990,000. Neumeier Poma Investment Counsel LLC boosted its stake in Adtalem Global Education by 59.2% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 405,530 shares of the company's stock valued at $36,842,000 after acquiring an additional 150,835 shares in the last quarter. Norges Bank purchased a new position in shares of Adtalem Global Education during the fourth quarter worth about $11,157,000. Pier Capital LLC purchased a new stake in shares of Adtalem Global Education in the 4th quarter valued at about $9,114,000. Finally, Corient Private Wealth LLC boosted its position in shares of Adtalem Global Education by 1,907.5% in the 4th quarter. Corient Private Wealth LLC now owns 96,077 shares of the company's stock valued at $8,729,000 after purchasing an additional 91,291 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barrington Research upped their target price on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Friday. BMO Capital Markets increased their target price on shares of Adtalem Global Education from $108.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Jefferies Financial Group began coverage on shares of Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price objective on the stock. Finally, StockNews.com cut Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th.

Adtalem Global Education Trading Down 2.9%

Shares of ATGE stock traded down $4.00 during mid-day trading on Monday, reaching $132.25. The company's stock had a trading volume of 296,008 shares, compared to its average volume of 445,537. The company's 50 day simple moving average is $103.25 and its 200-day simple moving average is $97.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.45. Adtalem Global Education Inc. has a 12-month low of $62.28 and a 12-month high of $144.25. The firm has a market capitalization of $4.93 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last issued its quarterly earnings data 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. Adtalem Global Education had a net margin of 12.34% and a return on equity of 16.82%. The company had revenue of $466.06 million during the quarter, compared to the consensus estimate of $447.19 million. During the same quarter last year, the company earned $1.50 earnings per share. Adtalem Global Education's revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts predict that Adtalem Global Education Inc. will post 6.2 EPS for the current fiscal year.

Adtalem Global Education declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Donna J. Hrinak sold 4,812 shares of Adtalem Global Education stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $103.26, for a total value of $496,887.12. Following the completion of the transaction, the director now directly owns 8,032 shares in the company, valued at approximately $829,384.32. This trade represents a 37.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

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.