Peregrine Asset Advisers Inc. Reduces Holdings in Adtalem Global Education Inc. (NYSE:ATGE)

Peregrine Asset Advisers Inc. decreased its position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,664 shares of the company's stock after selling 37,543 shares during the period. Adtalem Global Education comprises 2.3% of Peregrine Asset Advisers Inc.'s portfolio, making the stock its 9th biggest position. Peregrine Asset Advisers Inc. owned about 0.16% of Adtalem Global Education worth $6,005,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ATGE. Raymond James Financial Inc. bought a new position in Adtalem Global Education in the fourth quarter valued at approximately $2,368,000. Swiss National Bank raised its holdings in Adtalem Global Education by 1.0% in the fourth quarter. Swiss National Bank now owns 74,100 shares of the company's stock worth $6,732,000 after purchasing an additional 700 shares during the period. Natixis Advisors LLC raised its holdings in Adtalem Global Education by 8.9% in the fourth quarter. Natixis Advisors LLC now owns 11,945 shares of the company's stock worth $1,085,000 after purchasing an additional 978 shares during the period. Cibc World Markets Corp acquired a new stake in Adtalem Global Education in the fourth quarter worth $319,000. Finally, Xponance Inc. acquired a new stake in Adtalem Global Education in the fourth quarter worth $262,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Activity at Adtalem Global Education

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the completion of the transaction, the director owned 9,368 shares of the company's stock, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

Adtalem Global Education Price Performance

ATGE traded down $1.42 on Tuesday, reaching $114.73. The company had a trading volume of 525,718 shares, compared to its average volume of 443,696. The business has a 50 day simple moving average of $125.36 and a 200 day simple moving average of $110.22. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.05 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 $67.30 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 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $447.19 million. During the same period in the previous year, the firm earned $1.50 earnings per share. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATGE. 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 objective for the company. Barrington Research increased 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 report on Friday, May 9th. Finally, BMO Capital Markets boosted 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 report on Monday, May 12th.

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.