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

Convergence Investment Partners LLC purchased a new position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,756 shares of the company's stock, valued at approximately $277,000.

Other institutional investors also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Adtalem Global Education by 47.4% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 57,293 shares of the company's stock worth $5,766,000 after purchasing an additional 18,419 shares during the period. Horizon Investment Services LLC acquired a new stake in shares of Adtalem Global Education in the first quarter valued at about $413,000. Allianz Asset Management GmbH raised its position in shares of Adtalem Global Education by 58.2% during the first quarter. Allianz Asset Management GmbH now owns 409,437 shares of the company's stock worth $41,206,000 after acquiring an additional 150,702 shares during the last quarter. Forum Financial Management LP bought a new position in shares of Adtalem Global Education during the first quarter worth about $247,000. Finally, Bailard Inc. boosted its holdings in Adtalem Global Education by 21.6% in the first quarter. Bailard Inc. now owns 5,071 shares of the company's stock valued at $510,000 after acquiring an additional 900 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ATGE shares. Barrington Research boosted their price target on shares of Adtalem Global Education from $120.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Jefferies Financial Group assumed coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 target price on the stock. Finally, BMO Capital Markets increased their price target on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th.

Adtalem Global Education Stock Up 0.6%

Shares of NYSE:ATGE traded up $0.69 during trading on Friday, reaching $114.99. 304,833 shares of the stock were exchanged, compared to its average volume of 398,714. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a fifty day moving average of $123.77 and a two-hundred day moving average of $110.70. Adtalem Global Education Inc. has a 1-year low of $67.30 and a 1-year high of $140.12. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The company had revenue of $466.06 million during the quarter, compared to analyst estimates of $447.19 million. During the same period in the prior year, the company posted $1.50 earnings per share. Adtalem Global Education's quarterly revenue was up 12.9% on a year-over-year basis. 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 approved a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Adtalem Global Education

In other news, Director William W. Burke sold 2,291 shares of the 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 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 document filed with the SEC, which can be accessed through this hyperlink. 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.