Convergence Investment Partners LLC Makes New $277,000 Investment in Adtalem Global Education Inc. (NYSE:ATGE)

Convergence Investment Partners 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 filing with the Securities & Exchange Commission. The firm acquired 2,756 shares of the company's stock, valued at approximately $277,000.

A number of other hedge funds have also modified their holdings of ATGE. Raymond James Financial Inc. acquired a new position in Adtalem Global Education during the fourth quarter valued at approximately $2,368,000. Xponance Inc. acquired a new position in Adtalem Global Education during the fourth quarter valued at approximately $262,000. American Century Companies Inc. boosted its position in Adtalem Global Education by 5.4% during the fourth quarter. American Century Companies Inc. now owns 90,341 shares of the company's stock valued at $8,207,000 after purchasing an additional 4,637 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Adtalem Global Education during the fourth quarter valued at approximately $718,000. Finally, LPL Financial LLC acquired a new position in Adtalem Global Education during the fourth quarter valued at approximately $403,000. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group initiated coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 price target for the company. Barrington Research raised their price objective 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, BMO Capital Markets raised their price objective 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.

Adtalem Global Education Stock Performance

Shares of ATGE traded down $2.11 during mid-day trading on Monday, reaching $113.02. The company's stock had a trading volume of 127,698 shares, compared to its average volume of 475,522. Adtalem Global Education Inc. has a 1-year low of $67.30 and a 1-year high of $140.12. The stock has a market cap of $4.21 billion, a P/E ratio of 18.74, a PEG ratio of 1.03 and a beta of 0.90. The business has a 50-day simple moving average of $123.77 and a two-hundred day simple moving average of $110.93. 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 released 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 business had revenue of $466.06 million during 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% compared to the same quarter last year. During the same period last year, the firm posted $1.50 EPS. As a group, equities research analysts anticipate that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education announced that its board has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction that occurred on Thursday, June 5th. The stock was 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 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 SEC, which is accessible through the SEC website. 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.