Vanguard Group Inc. Sells 2,723 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• Vanguard Group Inc. reduced its stock position in Adtalem Global Education by 0.1%, owning approximately 12.32% of the company, valued at $462 million after selling 2,723 shares.
• Adtalem Global Education reported a quarterly EPS of $1.66, surpassing estimates of $1.51, with revenue growth of 11.5% year-over-year.
• The company has launched a $150 million stock repurchase plan, indicating potential belief in the stock being undervalued by its board of directors.

Vanguard Group Inc. trimmed its stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,590,622 shares of the company's stock after selling 2,723 shares during the period. Vanguard Group Inc. owned about 12.32% of Adtalem Global Education worth $462,000,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ATGE. Fifth Third Bancorp boosted its position in shares of 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 acquiring an additional 104 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in Adtalem Global Education in the first quarter worth $31,000. 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 purchasing an additional 860 shares during the period. USA Financial Formulas boosted its holdings 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 acquiring an additional 606 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Adtalem Global Education by 10,488.9% during 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 period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Adtalem Global Education Stock Performance

NYSE ATGE traded up $0.56 on Friday, reaching $128.87. The stock had a trading volume of 336,891 shares, compared to its average volume of 428,398. The firm has a fifty day moving average of $120.52 and a two-hundred day moving average of $113.20. The company has a market cap of $4.63 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.82 and a quick ratio of 0.82. Adtalem Global Education Inc. has a 1-year low of $68.60 and a 1-year high of $140.12.

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

Adtalem Global Education announced that its board has authorized a stock repurchase program on Tuesday, May 6th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Adtalem Global Education

In related news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of the transaction, the director directly owned 9,368 shares in the company, valued at $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

ATGE has been the subject of a number of research analyst reports. BMO Capital Markets upped 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. Jefferies Financial Group began coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price for the company. Finally, Barrington Research increased their price objective on Adtalem Global Education from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, August 8th.

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.