Picton Mahoney Asset Management Has $1.43 Million Stock Holdings in Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• Picton Mahoney Asset Management increased its stake in Adtalem Global Education by 88,412.5% during the 1st quarter, acquiring an additional 14,146 shares, now holding 14,162 shares valued at approximately $1.426 million.
• Adtalem Global Education reported earnings per share of $1.92 for the last quarter, surpassing analysts' expectations of $1.63, and showing a 12.9% year-over-year revenue growth.
• The company has authorized a $150 million stock buyback plan, allowing it to repurchase up to 3.6% of its shares, indicating management's belief that the stock is undervalued.

Picton Mahoney Asset Management lifted its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 88,412.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,162 shares of the company's stock after buying an additional 14,146 shares during the period. Picton Mahoney Asset Management's holdings in Adtalem Global Education were worth $1,426,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Adtalem Global Education by 1.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,880 shares of the company's stock valued at $1,196,000 after acquiring an additional 129 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Adtalem Global Education by 10,488.9% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 953 shares of the company's stock valued at $96,000 after acquiring an additional 944 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Adtalem Global Education by 6.4% in the 1st quarter. Pacer Advisors Inc. now owns 3,981 shares of the company's stock valued at $401,000 after purchasing an additional 241 shares during the period. Navellier & Associates Inc. acquired a new stake in shares of Adtalem Global Education during the first quarter valued at approximately $635,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Adtalem Global Education in the first quarter valued at $277,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adtalem Global Education

In related news, Director William W. Burke sold 2,291 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total transaction of $294,049.85. Following the sale, the director directly owned 9,368 shares in the company, valued at $1,202,382.80. This represents a 19.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

ATGE has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 target price for the company. BMO Capital Markets raised 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. Finally, Barrington Research reiterated an "outperform" rating and set a $140.00 price target on shares of Adtalem Global Education in a report on Wednesday.

Adtalem Global Education Price Performance

ATGE traded up $0.48 during midday trading on Friday, reaching $114.75. 401,311 shares of the company's stock were exchanged, compared to its average volume of 473,895. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.39. The business has a 50-day simple moving average of $122.34 and a two-hundred day simple moving average of $111.26. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. Adtalem Global Education Inc. has a one year low of $67.30 and a one year high of $140.12.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The firm had revenue of $466.06 million during the quarter, compared to analyst estimates of $447.19 million. During the same period in the prior year, the company posted $1.50 earnings per share. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts predict that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign 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.