Bank of America Corp DE Cuts Holdings in Adtalem Global Education Inc. (NYSE:ATGE)

Bank of America Corp DE lowered its stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 39.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,338 shares of the company's stock after selling 52,744 shares during the period. Bank of America Corp DE owned 0.21% of Adtalem Global Education worth $7,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Algert Global LLC lifted its stake in shares of Adtalem Global Education by 43.9% in the 4th quarter. Algert Global LLC now owns 81,171 shares of the company's stock valued at $7,374,000 after purchasing an additional 24,777 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Adtalem Global Education by 19.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 609,428 shares of the company's stock valued at $55,367,000 after purchasing an additional 99,491 shares during the last quarter. AXA S.A. acquired a new position in shares of Adtalem Global Education in the 4th quarter valued at $1,926,000. Gallagher Fiduciary Advisors LLC lifted its stake in shares of Adtalem Global Education by 18.5% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,589 shares of the company's stock valued at $508,000 after purchasing an additional 873 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Adtalem Global Education by 15.7% in the 4th quarter. Jane Street Group LLC now owns 129,732 shares of the company's stock valued at $11,786,000 after purchasing an additional 17,579 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Adtalem Global Education Trading Up 1.5%

Shares of ATGE stock traded up $1.91 on Friday, hitting $131.70. The stock had a trading volume of 41,087 shares, compared to its average volume of 454,423. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $4.91 billion, a P/E ratio of 24.53, a P/E/G ratio of 1.05 and a beta of 0.86. Adtalem Global Education Inc. has a 1 year low of $62.28 and a 1 year high of $140.12. The company's 50 day moving average price is $112.89 and its 200-day moving average price is $101.61.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The firm had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. During the same quarter in the previous year, the business earned $1.50 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. 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 authorized a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ATGE shares. Wall Street Zen lowered Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Jefferies Financial Group assumed coverage on Adtalem Global Education in a report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price objective on the stock. Barrington Research boosted their price objective on Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, BMO Capital Markets boosted their price objective on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th.

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.