Sei Investments Co. Acquires 5,406 Shares of Adtalem Global Education Inc. $ATGE

Key Points

• Sei Investments Co. increased its stake in Adtalem Global Education by 11.0%, owning 54,583 shares valued at approximately $5.44 million by the end of the 1st quarter.
• Adtalem Global Education reported a quarterly earnings per share (EPS) of $1.66, exceeding analysts' expectations of $1.51, alongside a revenue increase of 11.5% year-over-year.
• The company's board authorized a $150 million share repurchase program, indicating confidence in the stock's valuation and allowing for the buyback of up to 3.6% of its shares.

Sei Investments Co. increased its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,583 shares of the company's stock after acquiring an additional 5,406 shares during the period. Sei Investments Co. owned about 0.15% of Adtalem Global Education worth $5,444,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ATGE. Fifth Third Bancorp lifted its holdings in Adtalem Global Education by 56.8% during the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Adtalem Global Education in the first quarter valued at about $31,000. USA Financial Formulas increased its position in shares of Adtalem Global Education by 214.9% in the first quarter. USA Financial Formulas now owns 888 shares of the company's stock valued at $89,000 after acquiring an additional 606 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Adtalem Global Education by 10,488.9% in the first 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. Finally, Sterling Capital Management LLC increased its position in Adtalem Global Education by 774.8% during the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock worth $88,000 after buying an additional 860 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Insider Transactions at Adtalem Global Education

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ATGE shares. Barrington Research boosted their price target on Adtalem Global Education from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Jefferies Financial Group initiated coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 price target on the stock. Finally, BMO Capital Markets upped their target price on 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 Stock Performance

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 428,398. The company's 50-day moving average price is $120.52 and its 200-day moving average price is $113.20. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Adtalem Global Education Inc. has a one year low of $68.60 and a one year high of $140.12. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.12 and a beta of 0.88.

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

Adtalem Global Education declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are 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.