LSV Asset Management Sells 35,600 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• LSV Asset Management reduced its stake in Adtalem Global Education Inc. by 4.4%, holding approximately 770,800 shares after selling 35,600 shares during the first quarter.
• Adtalem Global Education reported a net margin of 13.34% and a revenue increase of 12.9% year-over-year, with an earnings per share of $1.92, surpassing analysts' expectations.
• The company's board authorized a stock buyback plan of $150 million, indicating that they believe the shares are currently undervalued.

LSV Asset Management lowered its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 770,800 shares of the company's stock after selling 35,600 shares during the period. LSV Asset Management owned 2.07% of Adtalem Global Education worth $77,573,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ATGE. 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 valued at $29,000 after acquiring an additional 104 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Adtalem Global Education in the first quarter valued at approximately $31,000. Sterling Capital Management LLC raised its position 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 in the last quarter. USA Financial Formulas boosted its stake in shares of Adtalem Global Education by 214.9% in the first 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 period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in 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 worth $96,000 after acquiring an additional 944 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ATGE shares. Jefferies Financial Group started coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price for the company. BMO Capital Markets boosted their target price on shares of Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, Barrington Research reiterated an "outperform" rating and set a $140.00 price target on shares of Adtalem Global Education in a research report on Wednesday, July 30th.

Insider Buying and Selling

In other news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.35, for a total transaction of $294,049.85. Following the sale, the director directly owned 9,368 shares in the company, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company's stock.

Adtalem Global Education Price Performance

NYSE ATGE traded up $3.66 during trading on Wednesday, hitting $118.99. 151,368 shares of the company's stock were exchanged, compared to its average volume of 469,394. The company has a market cap of $4.43 billion, a PE ratio of 19.69, a P/E/G 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. Adtalem Global Education Inc. has a fifty-two week low of $67.30 and a fifty-two week high of $140.12. The stock's 50 day moving average price is $121.48 and its two-hundred day moving average price is $111.72.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.29. The firm 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%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $1.50 earnings per share. Research analysts expect that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 6th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication 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.