Adtalem Global Education (NYSE:ATGE) Stock Price Down 5.5% Following Insider Selling

Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report)'s stock price dropped 5.5% during mid-day trading on Monday following insider selling activity. The stock traded as low as $122.93 and last traded at $121.12. Approximately 36,148 shares traded hands during trading, a decline of 92% from the average daily volume of 456,792 shares. The stock had previously closed at $128.23.

Specifically, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the sale, the director now owns 9,368 shares of the company's stock, valued at approximately $1,202,382.80. This trade represents a 19.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

ATGE has been the subject of several recent research reports. Wall Street Zen cut shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th. Barrington Research increased their price target on Adtalem Global Education from $120.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. BMO Capital Markets upped their price target 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, Jefferies Financial Group started coverage on Adtalem Global Education in a research note on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price on the stock.

Adtalem Global Education Stock Performance

The business's 50 day simple moving average is $116.29 and its two-hundred day simple moving average is $103.58. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.55 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 1.05 and a beta of 0.92.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.29. The firm had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. Sell-side analysts anticipate that Adtalem Global Education Inc. will post 6.2 EPS for the current fiscal year.

Adtalem Global Education declared that its board has initiated a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of Adtalem Global Education

Several institutional investors have recently modified their holdings of the stock. Invst LLC increased its holdings in shares of Adtalem Global Education by 209.1% during the 1st quarter. Invst LLC now owns 8,198 shares of the company's stock worth $825,000 after buying an additional 5,546 shares during the last quarter. Strs Ohio acquired a new stake in shares of Adtalem Global Education during the 1st quarter worth about $1,167,000. Acadian Asset Management LLC boosted its holdings in shares of Adtalem Global Education by 222.0% in the 1st quarter. Acadian Asset Management LLC now owns 27,758 shares of the company's stock valued at $2,790,000 after buying an additional 19,137 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Adtalem Global Education by 205.8% during the first quarter. Intech Investment Management LLC now owns 82,009 shares of the company's stock worth $8,253,000 after purchasing an additional 55,195 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Adtalem Global Education by 9.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,200 shares of the company's stock valued at $9,782,000 after buying an additional 8,418 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

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.

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