Connor Clark & Lunn Investment Management Ltd. Sells 41,011 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• Connor Clark & Lunn Investment Management Ltd. sold 41,011 shares of Adtalem Global Education, reducing its holdings by 68.6% during the 1st quarter, resulting in ownership of approximately 18,776 shares valued at $1.89 million.
• Adtalem Global Education has received increased price targets from analysts, with BMO Capital Markets raising theirs to $132.00 and Barrington Research setting it at $150.00, both maintaining an "outperform" rating.
• The company reported a quarterly EPS of $1.66, surpassing estimates, with revenue of $457.11 million, reflecting an 11.5% year-over-year increase.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 68.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,776 shares of the company's stock after selling 41,011 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Adtalem Global Education worth $1,890,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new stake in Adtalem Global Education during the 1st quarter valued at approximately $254,000. New Age Alpha Advisors LLC boosted its position in Adtalem Global Education by 26.6% during the 1st quarter. New Age Alpha Advisors LLC now owns 2,483 shares of the company's stock valued at $250,000 after acquiring an additional 522 shares in the last quarter. Allianz SE bought a new stake in shares of Adtalem Global Education in the 1st quarter worth approximately $449,000. Alberta Investment Management Corp bought a new stake in shares of Adtalem Global Education in the 1st quarter worth approximately $996,000. Finally, US Bancorp DE boosted its position in shares of Adtalem Global Education by 3.9% in the 1st quarter. US Bancorp DE now owns 3,414 shares of the company's stock worth $344,000 after purchasing an additional 129 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target on the stock. BMO Capital Markets boosted their price target on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Finally, Barrington Research set a $150.00 price target on Adtalem Global Education and gave the stock an "outperform" rating in a research report on Friday, August 8th.

Adtalem Global Education Stock Performance

ATGE stock opened at $128.87 on Friday. The stock has a market capitalization of $4.63 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88. Adtalem Global Education Inc. has a 12-month low of $68.60 and a 12-month high of $140.12. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The stock's 50 day simple moving average is $120.52 and its 200 day simple moving average is $113.04.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.15. The business had revenue of $457.11 million for the quarter, compared to analysts' expectations of $440.93 million. Adtalem Global Education had a return on equity of 17.95% and a net margin of 13.26%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. As a group, research analysts forecast that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the business's 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 completion of the sale, the director directly owned 9,368 shares in the company, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's 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.

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