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

Smith Group Asset Management LLC boosted its holdings 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 SEC. The firm owned 25,285 shares of the company's stock after purchasing an additional 18,526 shares during the quarter. Smith Group Asset Management LLC owned about 0.07% of Adtalem Global Education worth $2,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. grew its stake in shares of Adtalem Global Education by 6.4% in the 1st quarter. Vontobel Holding Ltd. now owns 2,559 shares of the company's stock worth $258,000 after buying an additional 155 shares during the last quarter. Kendall Capital Management purchased a new stake in shares of Adtalem Global Education in the first quarter worth $224,000. Diversified Trust Co purchased a new stake in shares of Adtalem Global Education in the first quarter worth $307,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Adtalem Global Education by 14.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 74,365 shares of the company's stock valued at $7,484,000 after acquiring an additional 9,235 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new position in shares of Adtalem Global Education in the 1st quarter worth about $866,000. Institutional investors own 98.84% of the company's stock.

Insider Activity at Adtalem Global Education

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were 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 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ATGE. Barrington Research upped their price objective 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. BMO Capital Markets increased their price objective 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. Wall Street Zen downgraded Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Jefferies Financial Group began coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price on the stock.

Adtalem Global Education Price Performance

Shares of NYSE:ATGE traded down $2.85 during midday trading on Tuesday, reaching $124.38. 462,372 shares of the company were exchanged, compared to its average volume of 446,386. The stock has a market cap of $4.63 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. The business's fifty day moving average is $122.91 and its two-hundred day moving average is $107.32. Adtalem Global Education Inc. has a one year low of $65.30 and a one year high of $140.12. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 17.47% and a net margin of 13.34%. The business had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. During the same period in the prior year, the business posted $1.50 earnings per share. The company's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, analysts predict 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 share buyback program on Tuesday, May 6th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

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.