Nuveen Asset Management LLC cut its stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 43.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,336 shares of the company's stock after selling 67,275 shares during the period. Nuveen Asset Management LLC owned about 0.23% of Adtalem Global Education worth $7,934,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ATGE. Arizona State Retirement System raised its holdings in shares of Adtalem Global Education by 1.0% in the fourth 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 in the last quarter. Bailard Inc. purchased a new position in Adtalem Global Education during the 4th quarter valued at about $379,000. Smith Group Asset Management LLC bought a new stake in shares of Adtalem Global Education in the 4th quarter valued at about $614,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Adtalem Global Education in the 4th quarter worth approximately $272,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Adtalem Global Education in the 4th quarter worth approximately $2,368,000. 98.84% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Jefferies Financial Group initiated 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 objective on the stock. BMO Capital Markets boosted their price target on Adtalem Global Education from $115.00 to $132.00 and gave the stock 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 report on Tuesday, March 18th. Finally, Barrington Research lifted 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.
View Our Latest Stock Analysis on ATGE
Adtalem Global Education Price Performance
Shares of NYSE ATGE traded up $2.75 during mid-day trading on Friday, reaching $132.54. The company's stock had a trading volume of 563,024 shares, compared to its average volume of 457,046. The stock has a 50-day moving average of $113.50 and a two-hundred day moving average of $101.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $4.94 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.05 and a beta of 0.86. Adtalem Global Education Inc. has a 1-year low of $62.28 and a 1-year high of $140.12.
Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The business had revenue of $466.06 million for the quarter, compared to analyst estimates of $447.19 million. During the same quarter in the previous year, the firm earned $1.50 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities research 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 stock buyback plan on Tuesday, May 6th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire 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.
About Adtalem Global Education
(
Free Report)
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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