Envestnet Asset Management Inc. Acquires 9,717 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Envestnet Asset Management Inc. grew its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 377.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,294 shares of the company's stock after buying an additional 9,717 shares during the period. Envestnet Asset Management Inc.'s holdings in Adtalem Global Education were worth $1,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Adtalem Global Education by 56.8% in the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Adtalem Global Education during the 1st quarter valued at about $31,000. Sterling Capital Management LLC increased its stake in Adtalem Global Education by 774.8% during the 4th quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock valued at $88,000 after purchasing an additional 860 shares in the last quarter. USA Financial Formulas raised its holdings in Adtalem Global Education by 214.9% in the first quarter. USA Financial Formulas now owns 888 shares of the company's stock worth $89,000 after buying an additional 606 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in Adtalem Global Education by 18.2% in the fourth quarter. Federated Hermes Inc. now owns 1,497 shares of the company's stock worth $136,000 after buying an additional 231 shares during the last quarter. Institutional investors own 98.84% of the company's stock.

Insider Transactions at Adtalem Global Education

In other news, Director William W. Burke sold 2,291 shares of the company's stock in a transaction dated 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 owned 9,368 shares of the company's stock, valued at $1,202,382.80. This represents a 19.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barrington Research reiterated an "outperform" rating and set a $140.00 price target on shares of Adtalem Global Education in a report on Wednesday. BMO Capital Markets increased their target price on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Finally, Jefferies Financial Group initiated coverage on Adtalem Global Education in a report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 target price for the company.

Adtalem Global Education Trading Up 0.4%

NYSE:ATGE opened at $114.75 on Friday. The company has a market cap of $4.28 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.88. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $122.06 and a two-hundred day simple moving average of $111.39. Adtalem Global Education Inc. has a 12 month low of $67.30 and a 12 month high of $140.12.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. During the same period last year, the business posted $1.50 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts forecast that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

Adtalem Global Education announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

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.

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