XTX Topco Ltd Trims Stock Holdings in Adtalem Global Education Inc. (NYSE:ATGE)

Key Points

• XTX Topco Ltd sold 8,114 shares of Adtalem Global Education Inc., reducing its holdings by 76.7%, now owning only 2,468 shares valued at $248,000.
• Fifth Third Bancorp and several other investors significantly increased their stakes in Adtalem, highlighting a strong institutional interest with 98.84% of the stock held by institutional investors.
• Analysts have issued new price targets for Adtalem Global Education, with BMO Capital Markets raising it to $132.00 and Barrington Research to $150.00, based on recent positive earnings performance.

XTX Topco Ltd reduced its holdings in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 76.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,468 shares of the company's stock after selling 8,114 shares during the quarter. XTX Topco Ltd's holdings in Adtalem Global Education were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors increased its stake in Adtalem Global Education by 5.2% in the fourth quarter. Capital World Investors now owns 1,016,441 shares of the company's stock valued at $92,344,000 after purchasing an additional 50,000 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Adtalem Global Education by 19.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 609,428 shares of the company's stock valued at $55,367,000 after purchasing an additional 99,491 shares during the last quarter. Northern Trust Corp grew its position in Adtalem Global Education by 4.9% during the fourth quarter. Northern Trust Corp now owns 474,224 shares of the company's stock valued at $43,083,000 after acquiring an additional 22,084 shares during the period. Allianz Asset Management GmbH grew its position in Adtalem Global Education by 58.2% during the first quarter. Allianz Asset Management GmbH now owns 409,437 shares of the company's stock valued at $41,206,000 after acquiring an additional 150,702 shares during the period. Finally, Invesco Ltd. grew its position in Adtalem Global Education by 19.5% during the fourth quarter. Invesco Ltd. now owns 390,932 shares of the company's stock valued at $35,516,000 after acquiring an additional 63,884 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Adtalem Global Education Trading Up 0.4%

ATGE stock traded up $0.56 during trading on Friday, reaching $128.87. 336,891 shares of the stock traded hands, compared to its average volume of 429,314. Adtalem Global Education Inc. has a 52-week low of $68.60 and a 52-week high of $140.12. The business's 50 day moving average price is $120.52 and its 200-day moving average price is $113.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $4.63 billion, a PE ratio of 20.82, a P/E/G ratio of 1.12 and a beta of 0.88.

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

Adtalem Global Education announced that its board has initiated a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, Director William W. Burke sold 2,291 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the completion of the sale, the director 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ATGE. 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 price target for the company. BMO Capital Markets boosted their price target on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, Barrington Research boosted their price target 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.

Adtalem Global Education 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.