Longboard Asset Management LP Invests $212,000 in Adtalem Global Education Inc. (NYSE:ATGE)

Longboard Asset Management LP bought a new position in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,106 shares of the company's stock, valued at approximately $212,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Fifth Third Bancorp grew its holdings 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 in the last quarter. Financial Management Professionals Inc. bought a new stake in Adtalem Global Education during the first quarter valued at approximately $31,000. Parkside Financial Bank & Trust grew its stake in Adtalem Global Education by 4,850.0% in 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 in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Adtalem Global Education by 196.9% in 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 last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Adtalem Global Education by 774.8% in the 4th quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock worth $88,000 after buying an additional 860 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Adtalem Global Education Trading Up 1.5%

Shares of Adtalem Global Education stock traded up $1.90 during trading on Thursday, reaching $125.06. The company's stock had a trading volume of 348,484 shares, compared to its average volume of 446,958. 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 Inc. has a 52-week low of $65.30 and a 52-week high of $140.12. The firm's 50-day moving average is $121.87 and its two-hundred day moving average is $106.52. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.26 and a beta of 0.92.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $466.06 million during the quarter, compared to the consensus estimate of $447.19 million. During the same period in the previous year, the firm posted $1.50 earnings per share. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

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

Analyst Ratings Changes

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

Insider Activity at Adtalem Global Education

In other Adtalem Global Education 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 completion of the sale, the director now owns 9,368 shares in the company, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

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.