Moran Wealth Management LLC Buys Shares of 5,191 Adtalem Global Education Inc. (NYSE:ATGE)

Moran Wealth Management LLC acquired a new position in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,191 shares of the company's stock, valued at approximately $522,000.

A number of other large investors have also modified their holdings of the company. Fifth Third Bancorp boosted its position in Adtalem Global Education by 56.8% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after acquiring an additional 104 shares during the period. Financial Management Professionals Inc. acquired a new stake in Adtalem Global Education in the first quarter worth about $31,000. Parkside Financial Bank & Trust lifted its holdings in Adtalem Global Education by 4,850.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 792 shares of the company's stock worth $72,000 after purchasing an additional 776 shares during the period. Smartleaf Asset Management LLC grew its position in Adtalem Global Education by 196.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock valued at $86,000 after buying an additional 634 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Adtalem Global Education by 774.8% during the 4th 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. Institutional investors and hedge funds own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ATGE. Jefferies Financial Group began 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. BMO Capital Markets boosted their target price on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Wall Street Zen lowered Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, Barrington Research lifted their price target on Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, May 9th.

Adtalem Global Education Price Performance

Shares of NYSE:ATGE traded down $2.85 during trading hours on Tuesday, hitting $124.38. 462,372 shares of the company's stock traded hands, compared to its average volume of 445,840. The company's fifty day simple moving average is $123.35 and its two-hundred day simple moving average is $107.44. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. Adtalem Global Education Inc. has a 52 week low of $66.90 and a 52 week high of $140.12.

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, topping analysts' consensus estimates of $1.63 by $0.29. The firm had revenue of $466.06 million during the quarter, compared to analysts' expectations 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 for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. As a group, equities analysts anticipate 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 share buyback plan on Tuesday, May 6th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

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 value of $294,049.85. Following the transaction, the director directly owned 9,368 shares of the company's stock, 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 legal filing with the SEC, which is available at this link. Corporate 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.