Mackenzie Financial Corp Sells 10,402 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Mackenzie Financial Corp lessened its stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 37.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 17,420 shares of the company's stock after selling 10,402 shares during the period. Mackenzie Financial Corp's holdings in Adtalem Global Education were worth $1,753,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of Adtalem Global Education by 56.8% during the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $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 about $31,000. USA Financial Formulas grew its position 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 purchasing an additional 606 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Adtalem Global Education by 10,488.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 953 shares of the company's stock valued at $96,000 after purchasing an additional 944 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake 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 during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Adtalem Global Education Trading Down 1.1%

ATGE traded down $1.29 during trading on Thursday, reaching $118.53. 491,155 shares of the company's stock were exchanged, compared to its average volume of 471,305. Adtalem Global Education Inc. has a fifty-two week low of $68.60 and a fifty-two week high of $140.12. The firm has a market capitalization of $4.42 billion, a PE ratio of 19.62, a P/E/G ratio of 1.03 and a beta of 0.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. The company's fifty day moving average price is $121.23 and its 200-day moving average price is $111.78.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.29. The company had revenue of $466.06 million during 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 firm's revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. As a group, equities analysts forecast that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total value of $294,049.85. Following the sale, the director directly owned 9,368 shares of the company's stock, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ATGE shares. Barrington Research reiterated an "outperform" rating and issued a $140.00 target price on shares of Adtalem Global Education in a research note on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 target price for the company. Finally, BMO Capital Markets raised their price target 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 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.