Navellier & Associates Inc. Acquires Shares of 6,314 Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• Navellier & Associates Inc. acquired 6,314 shares of Adtalem Global Education (NYSE:ATGE) in the first quarter, representing an investment valued at approximately $635,000.
• Adtalem Global Education's stock was reported at $114.99, with a market cap of $4.28 billion and a P/E ratio of 19.07.
• The company recently authorized a $150 million stock buyback program, allowing for the repurchase of up to 3.6% of its stock, indicating potential undervaluation according to its board.

Navellier & Associates Inc. acquired a new stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,314 shares of the company's stock, valued at approximately $635,000.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp raised its position in Adtalem Global Education by 56.8% in the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Adtalem Global Education in the first quarter worth about $31,000. USA Financial Formulas raised its position in Adtalem Global Education by 214.9% in the first quarter. USA Financial Formulas now owns 888 shares of the company's stock worth $89,000 after purchasing an additional 606 shares in the last quarter. Sterling Capital Management LLC raised its position in Adtalem Global Education by 774.8% in the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock worth $88,000 after purchasing an additional 860 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Adtalem Global Education by 18.2% in the fourth quarter. Federated Hermes Inc. now owns 1,497 shares of the company's stock worth $136,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Buying and Selling at Adtalem Global Education

In related news, Director William W. Burke sold 2,291 shares of the firm's 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 completion of the sale, the director 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target for the company. Barrington Research reaffirmed an "outperform" rating and set a $140.00 price objective on shares of Adtalem Global Education in a report on Wednesday. Finally, BMO Capital Markets lifted 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 note on Monday, May 12th.

Adtalem Global Education Price Performance

Shares of NYSE:ATGE traded up $0.94 during trading on Wednesday, reaching $114.88. The stock had a trading volume of 37,088 shares, compared to its average volume of 473,080. Adtalem Global Education Inc. has a 52 week low of $67.30 and a 52 week high of $140.12. The business's 50-day moving average price is $122.96 and its 200 day moving average price is $111.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $4.28 billion, a PE ratio of 19.06, a P/E/G ratio of 1.02 and a beta of 0.90.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $466.06 million during the quarter, compared to analysts' expectations of $447.19 million. During the same quarter in the previous year, the company posted $1.50 earnings per share. Adtalem Global Education's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

Adtalem Global Education declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are 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.