Archford Capital Strategies LLC Invests $866,000 in Adtalem Global Education Inc. (NYSE:ATGE)

Archford Capital Strategies LLC acquired a new position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,603 shares of the company's stock, valued at approximately $866,000.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of Adtalem Global Education by 56.8% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Adtalem Global Education during the 1st quarter worth $31,000. Parkside Financial Bank & Trust lifted its stake in shares of Adtalem Global Education by 4,850.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 792 shares of the company's stock worth $72,000 after purchasing an additional 776 shares during the last quarter. USA Financial Formulas lifted its stake in shares of Adtalem Global Education by 214.9% during the 1st quarter. USA Financial Formulas now owns 888 shares of the company's stock worth $89,000 after purchasing an additional 606 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Adtalem Global Education by 196.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock worth $86,000 after purchasing an additional 634 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William W. Burke sold 2,291 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the transaction, the director now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company's stock.

Adtalem Global Education Stock Up 2.5%

NYSE:ATGE traded up $3.14 during mid-day trading on Friday, hitting $128.52. 1,296,201 shares of the company's stock traded hands, compared to its average volume of 446,737. The company has a fifty day moving average of $122.32 and a 200 day moving average of $107.05. Adtalem Global Education Inc. has a twelve month low of $65.30 and a twelve month high of $140.12. The company has a market capitalization of $4.79 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.29. The business had revenue of $466.06 million for the quarter, compared to analyst estimates of $447.19 million. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The company's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 earnings per share. On average, analysts forecast that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education announced that its Board of Directors 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 buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ATGE shares. 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 research report on Monday, May 12th. Wall Street Zen lowered Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th. 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 research report on Friday, May 9th. Finally, 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 target price on the stock.

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.