Summit Global Investments Increases Stake in Adtalem Global Education Inc. (NYSE:ATGE)

Summit Global Investments lifted its position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 33.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,551 shares of the company's stock after buying an additional 3,128 shares during the quarter. Summit Global Investments' holdings in Adtalem Global Education were worth $1,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in Adtalem Global Education during the fourth quarter valued at about $70,000. Parkside Financial Bank & Trust boosted its holdings in Adtalem Global Education by 4,850.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 792 shares of the company's stock worth $72,000 after acquiring an additional 776 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Adtalem Global Education by 196.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock worth $86,000 after acquiring an additional 634 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Adtalem Global Education by 774.8% in the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock worth $88,000 after acquiring an additional 860 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Adtalem Global Education by 18.2% in the fourth quarter. Federated Hermes Inc. now owns 1,497 shares of the company's stock worth $136,000 after acquiring an additional 231 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Adtalem Global Education Stock Performance

Shares of NYSE:ATGE traded down $0.66 during trading on Wednesday, hitting $129.21. The stock had a trading volume of 76,438 shares, compared to its average volume of 456,254. Adtalem Global Education Inc. has a 12-month low of $62.28 and a 12-month high of $140.12. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $114.68 and a two-hundred day simple moving average of $102.63.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.29. The company had revenue of $466.06 million during the quarter, compared to analysts' expectations of $447.19 million. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. Adtalem Global Education's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $1.50 earnings per share. On average, equities research analysts expect that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

ATGE has been the subject of several recent analyst reports. Barrington Research raised their price target on Adtalem Global Education from $120.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Wall Street Zen downgraded Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. BMO Capital Markets raised their price target on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group started coverage on Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price objective for the company.

About Adtalem Global Education

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.