Adtalem Global Education (NYSE:ATGE) Reaches New 12-Month High - Here's Why

Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $113.35 and last traded at $112.73, with a volume of 106314 shares traded. The stock had previously closed at $107.24.

Analyst Ratings Changes

ATGE has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. BMO Capital Markets increased their price objective on shares of Adtalem Global Education from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Jefferies Financial Group started coverage on Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target for the company. Finally, Barrington Research reiterated an "outperform" rating and set a $120.00 price target on shares of Adtalem Global Education in a report on Tuesday, April 15th.

Adtalem Global Education Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.06. The business has a 50 day simple moving average of $102.16 and a 200-day simple moving average of $96.05. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 1.05 and a beta of 0.86.

Adtalem Global Education declared that its board has approved a share repurchase program on Tuesday, May 6th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Donna J. Hrinak sold 4,812 shares of Adtalem Global Education stock in a transaction on 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 sale, the director now directly owns 8,032 shares of the company's stock, valued at approximately $829,384.32. This trade represents a 37.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Adtalem Global Education

Large investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in shares of Adtalem Global Education by 1.0% during the 4th quarter. Arizona State Retirement System now owns 10,939 shares of the company's stock worth $994,000 after buying an additional 110 shares in the last quarter. Bailard Inc. bought a new stake in shares of Adtalem Global Education in the fourth quarter worth $379,000. Smith Group Asset Management LLC purchased a new position in Adtalem Global Education during the fourth quarter valued at $614,000. Y Intercept Hong Kong Ltd bought a new position in shares of Adtalem Global Education during the fourth quarter valued at approximately $272,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Adtalem Global Education in the 4th quarter valued at $2,368,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Adtalem Global Education Company Profile

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.