NorthCrest Asset Manangement LLC Buys New Shares in Adtalem Global Education Inc. (NYSE:ATGE)

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

Other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Adtalem Global Education by 1.0% in the 4th quarter. Arizona State Retirement System now owns 10,939 shares of the company's stock valued at $994,000 after acquiring an additional 110 shares during the period. Bailard Inc. bought a new position in shares of Adtalem Global Education in the 4th quarter valued at about $379,000. Y Intercept Hong Kong Ltd bought a new position in shares of Adtalem Global Education in the 4th quarter valued at about $272,000. Raymond James Financial Inc. bought a new position in shares of Adtalem Global Education in the 4th quarter valued at about $2,368,000. Finally, Principal Financial Group Inc. grew its position in shares of Adtalem Global Education by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 200,624 shares of the company's stock valued at $18,227,000 after acquiring an additional 7,069 shares during the period. Institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ATGE shares. Jefferies Financial Group started coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price for the company. Wall Street Zen cut shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Barrington Research raised their target price 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. Finally, BMO Capital Markets raised their target price on shares of Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th.

Adtalem Global Education Price Performance

Shares of Adtalem Global Education stock opened at $121.84 on Monday. Adtalem Global Education Inc. has a twelve month low of $62.70 and a twelve month high of $140.12. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $118.26 and a two-hundred day simple moving average of $104.61. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.92.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a net margin of 12.34% and a return on equity of 16.82%. The business 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 earned $1.50 EPS. The business's revenue was up 12.9% on a year-over-year basis. Analysts forecast that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of Adtalem Global Education 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 completion of the sale, the director now owns 9,368 shares in the company, valued at $1,202,382.80. The trade was a 19.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company's stock.

About Adtalem Global Education

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.

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