Entropy Technologies LP Reduces Position in Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• Entropy Technologies LP reduced its stake in Adtalem Global Education by 24.3%, now holding shares worth $627,000 after selling 2,000 shares in the first quarter.
• Adtalem Global Education recently had its earnings beat analyst estimates, reporting $1.66 earnings per share for the quarter, significantly above the consensus estimate of $1.51.
• The company's Board of Directors approved a stock repurchase program to buy back $150 million in shares, indicating a belief that the stock is currently undervalued.

Entropy Technologies LP trimmed its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 24.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,232 shares of the company's stock after selling 2,000 shares during the period. Entropy Technologies LP's holdings in Adtalem Global Education were worth $627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in Adtalem Global Education by 56.8% in the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Adtalem Global Education in the first quarter worth $31,000. Sterling Capital Management LLC raised its stake in shares of Adtalem Global Education by 774.8% in the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock valued at $88,000 after buying an additional 860 shares during the period. USA Financial Formulas lifted its position 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 valued at $89,000 after buying an additional 606 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Adtalem Global Education by 10,488.9% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 953 shares of the company's stock valued at $96,000 after buying an additional 944 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company's stock.

Adtalem Global Education Price Performance

Shares of ATGE stock traded up $0.56 during trading hours on Friday, reaching $128.87. The stock had a trading volume of 336,891 shares, compared to its average volume of 475,370. The stock's fifty day simple moving average is $120.50 and its 200 day simple moving average is $112.83. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. 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 PE ratio of 20.82, a PEG ratio of 1.12 and a beta of 0.88.

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 (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.15. Adtalem Global Education had a net margin of 13.26% and a return on equity of 17.95%. The business had revenue of $457.11 million during the quarter, compared to analyst estimates of $440.93 million. During the same period in the previous year, the business posted $1.37 earnings per share. Adtalem Global Education's revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education declared that its board has approved a stock repurchase program 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 programs are usually a sign that the company's board believes its stock is undervalued.

Adtalem Global Education Company 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.