Longboard Asset Management LP Makes New Investment in Adtalem Global Education Inc. (NYSE:ATGE)

Longboard Asset Management LP purchased a new stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,106 shares of the company's stock, valued at approximately $212,000.

A number of other hedge funds also recently modified their holdings of ATGE. Principal Financial Group Inc. raised its holdings in shares of Adtalem Global Education by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 200,624 shares of the company's stock worth $18,227,000 after purchasing an additional 7,069 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Adtalem Global Education by 11.7% in the 4th quarter. Sanctuary Advisors LLC now owns 24,116 shares of the company's stock worth $2,191,000 after purchasing an additional 2,529 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Adtalem Global Education by 2.4% in the 4th quarter. Handelsbanken Fonder AB now owns 8,395 shares of the company's stock worth $763,000 after purchasing an additional 200 shares during the period. Sigma Planning Corp bought a new stake in shares of Adtalem Global Education in the 4th quarter worth approximately $545,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Adtalem Global Education in the 4th quarter worth approximately $272,000. Institutional investors own 98.84% of the company's stock.

Insider Transactions at Adtalem Global Education

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

Adtalem Global Education Price Performance

Adtalem Global Education stock traded down $1.84 during midday trading on Tuesday, hitting $126.20. 398,248 shares of the company's stock were exchanged, compared to its average volume of 448,009. Adtalem Global Education Inc. has a 52-week low of $64.75 and a 52-week high of $140.12. The stock has a 50-day moving average price of $121.16 and a two-hundred day moving average price of $106.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $4.70 billion, a P/E ratio of 20.93, a PEG ratio of 1.31 and a beta of 0.92.

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, topping the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The firm had revenue of $466.06 million during the quarter, compared to analyst estimates of $447.19 million. During the same quarter in the previous year, the company posted $1.50 earnings per share. The company's revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on ATGE. Jefferies Financial Group initiated coverage on 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. Wall Street Zen cut Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th. BMO Capital Markets lifted their price target on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, Barrington Research lifted their price target on Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, May 9th.

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.