Victory Capital Management Inc. Grows Position in Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• Victory Capital Management Inc. increased its holdings in Adtalem Global Education by 62.4% in the first quarter, now owning 54,365 shares valued at approximately $5.47 million.
• Adtalem Global Education recently reported earnings of $1.92 per share, exceeding analysts' expectations, and achieved revenues of $466.06 million for the quarter.
• The company has approved a $150 million share repurchase plan, indicating that the board believes its shares are undervalued.

Victory Capital Management Inc. lifted its position in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 62.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,365 shares of the company's stock after acquiring an additional 20,896 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of Adtalem Global Education worth $5,471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ATGE. Fifth Third Bancorp boosted its holdings in shares of Adtalem Global Education by 56.8% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the company's stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Adtalem Global Education by 5.2% during the 1st quarter. Xponance Inc. now owns 3,040 shares of the company's stock valued at $306,000 after buying an additional 151 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Adtalem Global Education by 6.4% in the 1st quarter. Vontobel Holding Ltd. now owns 2,559 shares of the company's stock worth $258,000 after buying an additional 155 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Adtalem Global Education by 5.4% in the fourth quarter. Quantinno Capital Management LP now owns 3,224 shares of the company's stock worth $293,000 after acquiring an additional 165 shares during the period. Finally, Summit Investment Advisors Inc. increased its position in Adtalem Global Education by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,922 shares of the company's stock valued at $356,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Insider Buying and Selling

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $1,202,382.80. The trade was a 19.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on ATGE shares. Barrington Research reaffirmed an "outperform" rating and set a $140.00 target price on shares of Adtalem Global Education in a report on Wednesday. Jefferies Financial Group initiated coverage on shares of Adtalem Global Education in a research report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 price objective on the stock. Finally, BMO Capital Markets raised 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.

Adtalem Global Education Trading Down 0.0%

ATGE traded down $0.01 during trading on Wednesday, reaching $113.93. The company had a trading volume of 331,794 shares, compared to its average volume of 343,076. The stock has a market cap of $4.25 billion, a P/E ratio of 18.89, a PEG ratio of 1.02 and a beta of 0.90. Adtalem Global Education Inc. has a 52 week low of $67.30 and a 52 week high of $140.12. The business has a 50 day simple moving average of $122.62 and a 200-day simple moving average of $111.12. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.39.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The company had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. During the same quarter in the prior year, the company posted $1.50 EPS. Adtalem Global Education's quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that Adtalem Global Education Inc. will post 6.2 EPS for the current fiscal year.

Adtalem Global Education announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 6th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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.