Boston Partners Grows Stake in Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• Boston Partners increased its stake in Adtalem Global Education by 11.3% in Q1 2023, owning 1.17% of the company worth approximately $43.9 million.
• Analysts are optimistic, with Barrington Research raising its price target for Adtalem Global Education to $150.00 and giving it an "outperform" rating.
• Adtalem Global Education reported a EPS of $1.66 for the latest quarter, surpassing estimates and demonstrating a revenue increase of 11.5% year-over-year.

Boston Partners increased its position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 435,060 shares of the company's stock after purchasing an additional 44,110 shares during the period. Boston Partners owned approximately 1.17% of Adtalem Global Education worth $43,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ATGE. Fifth Third Bancorp raised its stake in Adtalem Global Education by 56.8% during the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Adtalem Global Education by 1.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,880 shares of the company's stock valued at $1,196,000 after buying an additional 129 shares during the last quarter. US Bancorp DE increased its position in Adtalem Global Education by 3.9% during the 1st quarter. US Bancorp DE now owns 3,414 shares of the company's stock valued at $344,000 after purchasing an additional 129 shares during the period. Xponance Inc. raised its stake in Adtalem Global Education by 5.2% during the first quarter. Xponance Inc. now owns 3,040 shares of the company's stock worth $306,000 after buying an additional 151 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Adtalem Global Education by 6.4% during the 1st quarter. Vontobel Holding Ltd. now owns 2,559 shares of the company's stock valued at $258,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Adtalem Global Education Stock Performance

Shares of NYSE:ATGE traded up $0.56 during midday trading on Friday, reaching $128.87. 336,891 shares of the company traded hands, compared to its average volume of 428,398. The firm's fifty day moving average price is $120.52 and its two-hundred day moving average price is $113.20. Adtalem Global Education Inc. has a 12 month low of $68.60 and a 12 month high of $140.12. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.39.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.15. Adtalem Global Education had a return on equity of 17.95% and a net margin of 13.26%. The business had revenue of $457.11 million for the quarter, compared to analyst estimates of $440.93 million. During the same period in the prior year, the company earned $1.37 EPS. The company's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect 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 repurchase plan on Tuesday, May 6th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Transactions at Adtalem Global Education

In related news, Director William W. Burke sold 2,291 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the transaction, the director owned 9,368 shares of the company's stock, valued at approximately $1,202,382.80. This trade represents a 19.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on ATGE. Jefferies Financial Group initiated coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target for the company. BMO Capital Markets boosted their price target on shares of Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Barrington Research lifted their target price on Adtalem Global Education from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th.

Adtalem Global Education 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.