Adtalem Global Education (NYSE:ATGE) Stock Price Down 3.4% - Here's What Happened

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barrington Research lifted their target price on 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 lifted their price objective on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Wall Street Zen cut Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Jefferies Financial Group assumed coverage on shares of Adtalem Global Education in a research report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price on the stock.

Adtalem Global Education Stock Performance

The stock has a 50 day moving average price of $116.29 and a two-hundred day moving average price of $103.48. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.05 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.29. The company had revenue of $466.06 million during the quarter, compared to analysts' expectations of $447.19 million. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. Adtalem Global Education's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 EPS. Analysts predict that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

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

Insider Transactions at Adtalem Global Education

In related news, Director William W. Burke sold 2,291 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total value of $294,049.85. Following the completion of the sale, the director now owns 9,368 shares in the company, valued at $1,202,382.80. This represents a 19.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

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

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.