NorthCrest Asset Manangement LLC Takes Position in Adtalem Global Education Inc. (NYSE:ATGE)

NorthCrest Asset Manangement LLC bought a new stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,138 shares of the company's stock, valued at approximately $618,000.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Adtalem Global Education by 56.8% in 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. purchased a new position in shares of Adtalem Global Education in the first quarter valued at $31,000. Parkside Financial Bank & Trust boosted its stake in shares of Adtalem Global Education by 4,850.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 792 shares of the company's stock valued at $72,000 after purchasing an additional 776 shares during the period. Smartleaf Asset Management LLC grew its holdings in Adtalem Global Education by 196.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock valued at $86,000 after purchasing 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 worth $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.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Barrington Research increased 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 price objective on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group initiated coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 target price on the stock.

Adtalem Global Education Stock Up 1.2%

Adtalem Global Education stock traded up $1.50 during midday trading on Thursday, hitting $124.41. The stock had a trading volume of 423,817 shares, compared to its average volume of 460,263. The business has a fifty day moving average price of $119.44 and a 200 day moving average price of $105.09. Adtalem Global Education Inc. has a 12 month low of $63.24 and a 12 month high of $140.12. The stock has a market cap of $4.64 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.26 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39.

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 analysts' consensus estimates of $1.63 by $0.29. The business had revenue of $466.06 million during the quarter, compared to the consensus estimate of $447.19 million. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 EPS. Research analysts predict that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education declared that its board has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Adtalem Global Education

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the firm's stock in a transaction dated 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 now owns 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 legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by insiders.

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.