Teacher Retirement System of Texas Buys 29,860 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Teacher Retirement System of Texas grew its position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,407 shares of the company's stock after acquiring an additional 29,860 shares during the period. Teacher Retirement System of Texas owned about 0.21% of Adtalem Global Education worth $7,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp raised its stake in Adtalem Global Education by 56.8% in the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after buying an additional 104 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Adtalem Global Education during the first quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its stake in shares of Adtalem Global Education by 196.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 956 shares of the company's stock valued at $86,000 after purchasing an additional 634 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Adtalem Global Education by 774.8% during the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock valued at $88,000 after purchasing an additional 860 shares in the last quarter. Finally, USA Financial Formulas increased its stake in shares of Adtalem Global Education by 214.9% during the first quarter. USA Financial Formulas now owns 888 shares of the company's stock valued at $89,000 after purchasing an additional 606 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Adtalem Global Education Stock Down 1.3%

Shares of NYSE:ATGE traded down $1.55 during trading on Tuesday, reaching $120.11. 388,907 shares of the stock traded hands, compared to its average volume of 446,708. The stock has a 50-day moving average of $124.96 and a two-hundred day moving average of $108.59. Adtalem Global Education Inc. has a 52-week low of $66.90 and a 52-week high of $140.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $4.48 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last issued its earnings results 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 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 analysts' expectations of $447.19 million. During the same quarter last year, the company posted $1.50 earnings per share. The firm's quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side 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 has authorized a stock buyback program on Tuesday, May 6th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase 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 shares are undervalued.

Insiders Place Their Bets

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 9,368 shares in the company, valued at approximately $1,202,382.80. This trade represents a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ATGE shares. Jefferies Financial Group started 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 for the company. Wall Street Zen downgraded shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Barrington Research increased their price target on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, BMO Capital Markets increased their price target on shares of Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th.

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.