Harbor Capital Advisors Inc. Makes New Investment in Adtalem Global Education Inc. (NYSE:ATGE)

Harbor Capital Advisors Inc. bought a new stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,334 shares of the company's stock, valued at approximately $839,000.

Several other hedge funds have also bought and sold shares of ATGE. Gladstone Institutional Advisory LLC acquired a new position in Adtalem Global Education during the fourth quarter worth approximately $516,000. Vontobel Holding Ltd. bought a new position in shares of Adtalem Global Education during the 4th quarter worth approximately $218,000. New York State Teachers Retirement System increased its holdings in shares of Adtalem Global Education by 5.2% during the 4th quarter. New York State Teachers Retirement System now owns 56,986 shares of the company's stock worth $5,177,000 after acquiring an additional 2,832 shares during the last quarter. Principal Financial Group Inc. raised its stake in Adtalem Global Education by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 200,624 shares of the company's stock valued at $18,227,000 after acquiring an additional 7,069 shares during the period. Finally, Sanctuary Advisors LLC lifted its holdings in Adtalem Global Education by 11.7% during the 4th quarter. Sanctuary Advisors LLC now owns 24,116 shares of the company's stock valued at $2,191,000 after purchasing an additional 2,529 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Adtalem Global Education Stock Performance

Shares of ATGE traded down $0.45 during midday trading on Tuesday, reaching $122.86. 318,520 shares of the stock were exchanged, compared to its average volume of 459,735. The stock's 50 day simple moving average is $119.08 and its 200 day simple moving average is $104.96. The company has a market cap of $4.58 billion, a P/E ratio of 20.37, a PEG ratio of 1.26 and a beta of 0.92. Adtalem Global Education Inc. has a twelve month low of $62.86 and a twelve month high of $140.12. The company has a quick ratio of 0.83, a current 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 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.29. The business had revenue of $466.06 million for the quarter, compared to analyst estimates of $447.19 million. Adtalem Global Education had a net margin of 13.34% and a return on equity of 17.47%. Adtalem Global Education's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $1.50 earnings per share. On average, sell-side analysts expect that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

Adtalem Global Education declared that its board has approved a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, Director William W. Burke sold 2,291 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the transaction, the director now owns 9,368 shares in the company, valued at approximately $1,202,382.80. This trade represents a 19.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ATGE shares. Barrington Research upped their price objective on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 9th. BMO Capital Markets upped their price target 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. Wall Street Zen cut shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Jefferies Financial Group assumed coverage on Adtalem Global Education in a report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 price objective for the company.

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.