Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report)'s stock price fell 4.4% on Wednesday . The company traded as low as $121.23 and last traded at $118.91. 75,547 shares were traded during mid-day trading, a decline of 83% from the average session volume of 444,558 shares. The stock had previously closed at $124.40.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ATGE. Jefferies Financial Group began coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target on the stock. Barrington Research raised their price target on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 9th. BMO Capital Markets raised their price target on shares of Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, Wall Street Zen cut shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th.
Read Our Latest Stock Report on Adtalem Global Education
Adtalem Global Education Stock Up 0.9%
The business's 50 day moving average is $124.41 and its 200 day moving average is $108.13. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83.
Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $1.92 EPS for the quarter, topping 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 net margin of 13.34% and a return on equity of 17.47%. Adtalem Global Education's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $1.50 EPS. Sell-side analysts anticipate that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.
Adtalem Global Education announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Insider Buying and Selling
In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of the sale, the director directly owned 9,368 shares in the company, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.
Institutional Trading of Adtalem Global Education
Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of Adtalem Global Education by 56.8% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the company's stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Arizona State Retirement System increased its holdings 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 valued at $994,000 after purchasing an additional 110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Adtalem Global Education by 1.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,880 shares of the company's stock valued at $1,196,000 after purchasing an additional 129 shares in the last quarter. US Bancorp DE increased its holdings in shares of Adtalem Global Education by 3.9% during the 1st quarter. US Bancorp DE now owns 3,414 shares of the company's stock valued at $344,000 after purchasing an additional 129 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Adtalem Global Education by 5.2% during the 1st quarter. Xponance Inc. now owns 3,040 shares of the company's stock valued at $306,000 after purchasing an additional 151 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.
Adtalem Global Education Company Profile
(
Get Free Report)
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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