Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report) fell 4.4% during mid-day trading on Wednesday . The stock traded as low as $121.23 and last traded at $118.91. 75,547 shares changed hands during trading, a decline of 83% from the average session volume of 444,558 shares. The stock had previously closed at $124.40.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ATGE. 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. Jefferies Financial Group assumed coverage on Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price objective for the company. Barrington Research raised their target price on Adtalem Global Education from $120.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, BMO Capital Markets boosted their price target on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th.
Check Out Our Latest Analysis on Adtalem Global Education
Adtalem Global Education Price Performance
The firm has a market cap of $4.58 billion, a PE ratio of 20.38, a P/E/G ratio of 1.09 and a beta of 0.90. The firm's fifty day simple moving average is $124.06 and its two-hundred day simple moving average is $107.75. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.39.
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 analysts' consensus estimates of $1.63 by $0.29. Adtalem Global Education had a net margin of 13.34% and a return on equity of 17.47%. The company had revenue of $466.06 million for the quarter, compared to analysts' expectations of $447.19 million. During the same quarter in the previous year, the company earned $1.50 EPS. Adtalem Global Education's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts expect that Adtalem Global Education Inc. will post 6.2 EPS for the current year.
Adtalem Global Education announced that its board has initiated a stock repurchase program on Tuesday, May 6th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
Insider Activity
In related news, Director William W. Burke sold 2,291 shares of the business's 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 transaction, the director directly owned 9,368 shares of the company's stock, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company's stock.
Hedge Funds Weigh In On Adtalem Global Education
A number of hedge funds and other institutional investors have recently modified their holdings of ATGE. Fifth Third Bancorp increased its holdings in Adtalem Global Education by 56.8% in the 1st quarter. Fifth Third Bancorp now owns 287 shares of the company's stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Adtalem Global Education in the first quarter worth about $31,000. USA Financial Formulas lifted its position in shares of Adtalem Global Education by 214.9% in the first quarter. USA Financial Formulas now owns 888 shares of the company's stock worth $89,000 after buying an additional 606 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Adtalem Global Education by 10,488.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 953 shares of the company's stock worth $96,000 after buying an additional 944 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Adtalem Global Education by 196.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock valued at $86,000 after buying an additional 634 shares during the last quarter. Institutional investors own 98.84% of the company's stock.
Adtalem Global Education Company Profile
(
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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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