Smith Group Asset Management LLC Boosts Stake in Adtalem Global Education Inc. (NYSE:ATGE)

Smith Group Asset Management LLC grew its stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 274.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,285 shares of the company's stock after purchasing an additional 18,526 shares during the period. Smith Group Asset Management LLC owned approximately 0.07% of Adtalem Global Education worth $2,545,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Adtalem Global Education by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,593,345 shares of the company's stock valued at $417,305,000 after buying an additional 82,931 shares during the last quarter. Capital World Investors lifted its stake in shares of Adtalem Global Education by 5.2% in the 4th quarter. Capital World Investors now owns 1,016,441 shares of the company's stock worth $92,344,000 after acquiring an additional 50,000 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Adtalem Global Education by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 679,289 shares of the company's stock worth $61,713,000 after acquiring an additional 3,908 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of Adtalem Global Education by 19.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 609,428 shares of the company's stock valued at $55,367,000 after acquiring an additional 99,491 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Adtalem Global Education by 4.9% during the fourth quarter. Northern Trust Corp now owns 474,224 shares of the company's stock worth $43,083,000 after acquiring an additional 22,084 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Adtalem Global Education Price Performance

Shares of NYSE ATGE traded up $1.09 during midday trading on Friday, hitting $122.92. The company had a trading volume of 287,275 shares, compared to its average volume of 446,230. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. Adtalem Global Education Inc. has a twelve month low of $66.90 and a twelve month high of $140.12. The business has a 50-day simple moving average of $124.41 and a two-hundred day simple moving average of $107.98. 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 issued its earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $447.19 million. During the same period last year, the company posted $1.50 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. Equities research 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 share buyback plan on Tuesday, May 6th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the company's stock in a transaction 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 sale, the director owned 9,368 shares of the company's stock, valued at approximately $1,202,382.80. This represents a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

ATGE has been the subject of a number of recent analyst reports. Barrington Research raised their price objective on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. BMO Capital Markets increased their target price on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. 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 target on the stock. Finally, Wall Street Zen lowered Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th.

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.