Allspring Global Investments Holdings LLC lessened its stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 28.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,907 shares of the company's stock after selling 23,711 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of Adtalem Global Education worth $6,029,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Boston Partners purchased a new stake in Adtalem Global Education in the fourth quarter worth approximately $35,990,000. GAMMA Investing LLC boosted its stake in Adtalem Global Education by 11,723.8% in the first quarter. GAMMA Investing LLC now owns 173,101 shares of the company's stock worth $17,421,000 after buying an additional 171,637 shares in the last quarter. Neumeier Poma Investment Counsel LLC lifted its position in Adtalem Global Education by 59.2% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 405,530 shares of the company's stock valued at $36,842,000 after purchasing an additional 150,835 shares during the last quarter. Westport Asset Management Inc. bought a new stake in Adtalem Global Education in the fourth quarter valued at approximately $11,425,000. Finally, Norges Bank bought a new stake in Adtalem Global Education in the fourth quarter valued at approximately $11,157,000. Hedge funds and other institutional investors own 98.84% of the company's stock.
Insider Activity at Adtalem Global Education
In other news, Director William W. Burke sold 2,291 shares of the 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 directly 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently commented on ATGE. Wall Street Zen downgraded Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. Jefferies Financial Group began coverage on Adtalem Global Education in a report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price for the company. BMO Capital Markets upped their target price on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, Barrington Research upped their target price on Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 9th.
View Our Latest Research Report on Adtalem Global Education
Adtalem Global Education Price Performance
ATGE stock remained flat at $120.00 during midday trading on Wednesday. The company had a trading volume of 258,714 shares, compared to its average volume of 446,485. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The stock's 50-day moving average price is $125.23 and its 200-day moving average price is $108.67. Adtalem Global Education Inc. has a 12 month low of $67.00 and a 12 month 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 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. The company had revenue of $466.06 million for the quarter, compared to analysts' expectations of $447.19 million. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 earnings per share. Research 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 approved a share repurchase program on Tuesday, May 6th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
Adtalem Global Education Profile
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Free Report)
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.
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