40,129 Shares in Adtalem Global Education Inc. (NYSE:ATGE) Acquired by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC invested approximately $4.04 million in Adtalem Global Education during the first quarter, acquiring around 40,129 shares of the company.
• Adtalem Global Education reported a quarterly earnings per share (EPS) of $1.66, surpassing analysts' expectations of $1.51, with revenue increasing by 11.5% year-over-year.
• The company's Board of Directors authorized a stock repurchase plan allowing Adtalem to buy back up to $150 million worth of its shares, indicating an expectation that the stock is undervalued.

Informed Momentum Co LLC acquired a new stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,129 shares of the company's stock, valued at approximately $4,039,000. Informed Momentum Co LLC owned 0.11% of Adtalem Global Education as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in 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 purchasing an additional 104 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Adtalem Global Education by 1.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,880 shares of the company's stock worth $1,196,000 after purchasing an additional 129 shares during the last quarter. US Bancorp DE grew its holdings in Adtalem Global Education by 3.9% in the first quarter. US Bancorp DE now owns 3,414 shares of the company's stock worth $344,000 after purchasing an additional 129 shares during the last quarter. Xponance Inc. grew its holdings in Adtalem Global Education by 5.2% in the first quarter. Xponance Inc. now owns 3,040 shares of the company's stock worth $306,000 after purchasing an additional 151 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Adtalem Global Education by 6.4% in the first quarter. Vontobel Holding Ltd. now owns 2,559 shares of the company's stock worth $258,000 after purchasing an additional 155 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction, the director owned 9,368 shares in the company, 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 at the SEC website. 2.00% of the stock is currently owned by insiders.

Adtalem Global Education Price Performance

Shares of ATGE stock traded up $0.56 during mid-day trading on Friday, hitting $128.87. 336,891 shares of the stock were exchanged, compared to its average volume of 429,314. The firm has a fifty day moving average of $120.52 and a 200 day moving average of $113.04. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.39. Adtalem Global Education Inc. has a 52-week low of $68.60 and a 52-week high of $140.12. The company has a market cap of $4.63 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.66 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $440.93 million. During the same period in the prior year, the company posted $1.37 EPS. The company's revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts anticipate that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

Adtalem Global Education declared that its board has authorized a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATGE. Barrington Research boosted their price objective on shares of Adtalem Global Education from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Jefferies Financial Group began coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 price objective on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th.

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.