Moran Wealth Management LLC Takes $522,000 Position in Adtalem Global Education Inc. (NYSE:ATGE)

Moran Wealth Management LLC acquired a new stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,191 shares of the company's stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ATGE. Boston Partners bought a new stake in Adtalem Global Education during the 4th quarter valued at about $35,990,000. GAMMA Investing LLC increased its stake in Adtalem Global Education by 11,723.8% during the 1st quarter. GAMMA Investing LLC now owns 173,101 shares of the company's stock valued at $17,421,000 after purchasing an additional 171,637 shares in the last quarter. Neumeier Poma Investment Counsel LLC increased its stake in Adtalem Global Education by 59.2% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 405,530 shares of the company's stock valued at $36,842,000 after purchasing an additional 150,835 shares in the last quarter. Westport Asset Management Inc. bought a new stake in Adtalem Global Education during the 4th quarter valued at about $11,425,000. Finally, Norges Bank bought a new stake in Adtalem Global Education during the 4th quarter valued at about $11,157,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATGE has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective 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 lowered shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Jefferies Financial Group initiated coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target for the company. Finally, Barrington Research lifted their price target on shares of Adtalem Global Education from $120.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th.

Adtalem Global Education Price Performance

NYSE:ATGE traded up $3.14 during trading hours on Friday, hitting $128.52. 1,296,201 shares of the stock traded hands, compared to its average volume of 446,737. 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 Inc. has a 1 year low of $65.30 and a 1 year high of $140.12. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. The stock has a 50 day moving average price of $122.32 and a 200 day moving average price of $106.93.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a net margin of 13.34% and a return on equity of 17.47%. The business had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts forecast that Adtalem Global Education Inc. will post 6.2 EPS for the current fiscal year.

Adtalem Global Education announced that its board has initiated a stock repurchase plan on Tuesday, May 6th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the sale, the director now owns 9,368 shares in the company, valued at $1,202,382.80. This trade represents a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company's stock.

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.