Wedge Capital Management L L P NC Sells 19,756 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Wedge Capital Management L L P NC lessened its stake in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 25.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,921 shares of the company's stock after selling 19,756 shares during the period. Wedge Capital Management L L P NC owned approximately 0.16% of Adtalem Global Education worth $5,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATGE. Boston Partners purchased a new position in Adtalem Global Education in the 4th quarter worth approximately $35,990,000. GAMMA Investing LLC grew its stake in Adtalem Global Education by 11,723.8% in the 1st quarter. GAMMA Investing LLC now owns 173,101 shares of the company's stock worth $17,421,000 after buying an additional 171,637 shares in the last quarter. Neumeier Poma Investment Counsel LLC grew its stake in Adtalem Global Education by 59.2% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 405,530 shares of the company's stock worth $36,842,000 after buying an additional 150,835 shares in the last quarter. Westport Asset Management Inc. purchased a new position in Adtalem Global Education in the 4th quarter worth approximately $11,425,000. Finally, Norges Bank purchased a new position in Adtalem Global Education in the 4th quarter worth approximately $11,157,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Insider Activity at Adtalem Global Education

In related news, Director William W. Burke sold 2,291 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of the sale, the director now directly owns 9,368 shares in the company, valued at $1,202,382.80. This represents a 19.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Adtalem Global Education Price Performance

Shares of Adtalem Global Education stock opened at $128.11 on Monday. Adtalem Global Education Inc. has a 52-week low of $62.28 and a 52-week high of $140.12. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.05 and a beta of 0.92. The company has a fifty day moving average of $116.29 and a 200-day moving average of $103.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.06.

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

Adtalem Global Education announced that its board has approved 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 repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have commented on ATGE. BMO Capital Markets boosted their price target on shares of Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Jefferies Financial Group began coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target for the company. Barrington Research boosted their price target on shares of Adtalem Global Education from $120.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Finally, Wall Street Zen cut shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th.

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.

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