Mackenzie Financial Corp Reduces Stock Position in Adtalem Global Education Inc. (NYSE:ATGE)

Mackenzie Financial Corp trimmed its stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 47.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,822 shares of the company's stock after selling 25,055 shares during the period. Mackenzie Financial Corp owned 0.07% of Adtalem Global Education worth $2,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATGE. Arizona State Retirement System grew its holdings in Adtalem Global Education by 1.0% during the fourth quarter. Arizona State Retirement System now owns 10,939 shares of the company's stock valued at $994,000 after purchasing an additional 110 shares during the period. Bailard Inc. bought a new stake in shares of Adtalem Global Education during the 4th quarter valued at $379,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Adtalem Global Education during the 4th quarter valued at $272,000. Raymond James Financial Inc. purchased a new position in shares of Adtalem Global Education during the 4th quarter valued at $2,368,000. Finally, Principal Financial Group Inc. boosted its holdings 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 worth $18,227,000 after buying an additional 7,069 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Adtalem Global Education Price Performance

ATGE stock traded down $3.35 during mid-day trading on Tuesday, hitting $129.93. The company had a trading volume of 650,836 shares, compared to its average volume of 457,751. The company has a 50-day moving average price of $114.68 and a 200 day moving average price of $102.63. Adtalem Global Education Inc. has a 12-month low of $62.28 and a 12-month high of $140.12. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.05 and a beta of 0.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.45.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its 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 company had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 earnings per share. On average, 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 approved a share repurchase plan on Tuesday, May 6th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

ATGE has been the topic of a number of recent analyst reports. Barrington Research raised their price target on 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 lifted 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. Wall Street Zen cut Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Jefferies Financial Group initiated 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 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.