Adtalem Global Education (NYSE:ATGE) Trading Down 3.4% - What's Next?

Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report)'s stock price dropped 3.4% during mid-day trading on Tuesday . The stock traded as low as $127.46 and last traded at $128.71. Approximately 240,116 shares changed hands during trading, a decline of 47% from the average daily volume of 456,163 shares. The stock had previously closed at $133.27.

Wall Street Analysts Forecast Growth

ATGE has been the subject of several recent research reports. BMO Capital Markets increased their price objective on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Jefferies Financial Group initiated coverage on Adtalem Global Education in a report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price on the stock. Barrington Research raised their target price on Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, Wall Street Zen lowered Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th.

Adtalem Global Education Trading Down 1.1%

The company has a fifty day simple moving average of $115.77 and a two-hundred day simple moving average of $103.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $4.77 billion, a P/E ratio of 23.82, 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 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 company 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 firm's revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $1.50 earnings per share. On average, analysts forecast that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 6th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Adtalem Global Education

Several hedge funds and other institutional investors have recently made changes to their positions in ATGE. Fifth Third Bancorp grew its position in shares of Adtalem Global Education by 56.8% in the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Adtalem Global Education during the first quarter worth about $31,000. Parkside Financial Bank & Trust grew its position in Adtalem Global Education by 4,850.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 792 shares of the company's stock worth $72,000 after buying an additional 776 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Adtalem Global Education by 196.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock worth $86,000 after buying an additional 634 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Adtalem Global Education by 774.8% during the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock worth $88,000 after buying an additional 860 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

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.