Public Sector Pension Investment Board Purchases 44,213 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• The Public Sector Pension Investment Board increased its stake in Adtalem Global Education Inc. by 47.3% during the first quarter, now owning 137,641 shares valued at approximately $13.85 million.
• Several other hedge funds also raised their positions in Adtalem, with notable increases such as Fifth Third Bancorp increasing its stake by 56.8% and Skandinaviska Enskilda Banken AB raising its holdings by an astonishing 10,488.9%.
• Adtalem's recent earnings report showed an 11.5% year-over-year revenue increase and an EPS of $1.66, surpassing analysts' expectations of $1.51.

Public Sector Pension Investment Board raised its stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 47.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,641 shares of the company's stock after purchasing an additional 44,213 shares during the quarter. Public Sector Pension Investment Board owned about 0.37% of Adtalem Global Education worth $13,852,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ATGE. Nuveen LLC bought a new stake in Adtalem Global Education in the first quarter valued at about $10,140,000. Invesco Ltd. boosted its position in shares of Adtalem Global Education by 13.3% during the first quarter. Invesco Ltd. now owns 442,945 shares of the company's stock worth $44,578,000 after buying an additional 52,013 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Adtalem Global Education during the first quarter worth approximately $254,000. New Age Alpha Advisors LLC lifted its position in Adtalem Global Education by 26.6% in the first quarter. New Age Alpha Advisors LLC now owns 2,483 shares of the company's stock worth $250,000 after purchasing an additional 522 shares during the period. Finally, Allianz SE acquired a new stake in Adtalem Global Education in the first quarter worth approximately $449,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ATGE. BMO Capital Markets upped their price target on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Jefferies Financial Group assumed 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 on the stock. Finally, Barrington Research boosted their target price on shares of Adtalem Global Education from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, August 8th.

Insider Transactions at Adtalem Global Education

In related news, Director William W. Burke sold 2,291 shares of the company's stock in a transaction on 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 directly owned 9,368 shares in the company, valued at approximately $1,202,382.80. This represents a 19.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company's stock.

Adtalem Global Education Stock Up 0.4%

Shares of NYSE ATGE traded up $0.56 during mid-day trading on Friday, reaching $128.87. The company had a trading volume of 336,891 shares, compared to its average volume of 429,314. Adtalem Global Education Inc. has a twelve month low of $68.60 and a twelve month high of $140.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $4.63 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88. The stock's 50 day moving average is $120.52 and its 200-day moving average is $113.04.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.15. Adtalem Global Education had a net margin of 13.26% and a return on equity of 17.95%. The business had revenue of $457.11 million for the quarter, compared to the consensus estimate of $440.93 million. During the same period in the prior year, the business posted $1.37 earnings per share. Adtalem Global Education's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education announced that its Board of Directors has initiated a share 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 usually a sign that the company's management believes its stock is undervalued.

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.