Wedge Capital Management L L P NC Sells 8,792 Shares of Adtalem Global Education Inc. $ATGE

Key Points

• Wedge Capital Management L L P NC reduced its stake in Adtalem Global Education by 14.9%, holding approximately $6.38 million worth of shares after selling 8,792 shares in Q2.
• Several hedge funds have increased their holdings in Adtalem Global Education, with notable increases including Fifth Third Bancorp by 56.8% and USA Financial Formulas by 214.9% during the same quarter.
• Analysts have mixed ratings on Adtalem Global Education, with Barrington Research raising their price target from $140 to $150, while Zacks Research downgraded the stock from "strong-buy" to "hold."

Wedge Capital Management L L P NC decreased its stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,129 shares of the company's stock after selling 8,792 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.13% of Adtalem Global Education worth $6,378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position in shares of Adtalem Global Education by 124.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 699,027 shares of the company's stock worth $70,350,000 after acquiring an additional 387,330 shares in the last quarter. Northern Trust Corp lifted its position in Adtalem Global Education by 8.0% during the 1st quarter. Northern Trust Corp now owns 511,966 shares of the company's stock worth $51,524,000 after acquiring an additional 37,742 shares during the period. Invesco Ltd. grew its position in Adtalem Global Education by 13.3% in the 1st quarter. Invesco Ltd. now owns 442,945 shares of the company's stock valued at $44,578,000 after buying an additional 52,013 shares during the last quarter. Boston Partners lifted its holdings in shares of Adtalem Global Education by 11.3% in the 1st quarter. Boston Partners now owns 435,060 shares of the company's stock valued at $43,876,000 after buying an additional 44,110 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Adtalem Global Education by 58.2% in the 1st quarter. Allianz Asset Management GmbH now owns 409,437 shares of the company's stock valued at $41,206,000 after buying an additional 150,702 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ATGE shares. Zacks Research downgraded Adtalem Global Education from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Barrington Research reaffirmed an "outperform" rating and issued a $150.00 price objective on shares of Adtalem Global Education in a research note on Tuesday. Finally, Wall Street Zen downgraded Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $139.00.

Adtalem Global Education Stock Performance

Shares of NYSE:ATGE traded up $0.32 during trading on Tuesday, hitting $143.68. 206,008 shares of the company traded hands, compared to its average volume of 458,286. Adtalem Global Education Inc. has a one year low of $71.09 and a one year high of $144.77. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.21 and a beta of 0.94. The business's fifty day moving average is $126.81 and its 200-day moving average is $119.01. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.39.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.15. The firm had revenue of $457.11 million during the quarter, compared to the consensus estimate of $440.93 million. Adtalem Global Education had a return on equity of 17.95% and a net margin of 13.26%.The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. Adtalem Global Education has set its FY 2026 guidance at 7.600-7.900 EPS. As a group, equities analysts predict that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adtalem Global Education news, Director Lisa W. Wardell sold 25,477 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $132.38, for a total transaction of $3,372,645.26. Following the sale, the director directly owned 43,451 shares of the company's stock, valued at $5,752,043.38. The trade was a 36.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Manjunath Gangadharan sold 944 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $135.67, for a total transaction of $128,072.48. Following the completion of the transaction, the chief accounting officer directly owned 4,901 shares in the company, valued at $664,918.67. This trade represents a 16.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,713 shares of company stock valued at $7,702,094 in the last quarter. Insiders own 2.00% of the company's stock.

Adtalem Global Education Company 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.