Adtalem Global Education (NYSE:ATGE) Reaches New 1-Year High – Here’s What Happened

Adtalem Global Education Inc. (NYSE:ATGE) shares reached a new 52-week high on Wednesday . The company traded as high as $87.30 and last traded at $86.44, with a volume of 35812 shares trading hands. The stock had previously closed at $81.28.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their target price on Adtalem Global Education from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Barrington Research boosted their target price on Adtalem Global Education from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th.

Adtalem Global Education Stock Performance

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 0.90 and a beta of 0.95. The company’s 50-day simple moving average is $74.35 and its 200-day simple moving average is $69.80.

Adtalem Global Education (NYSE:ATGE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.17. Adtalem Global Education had a net margin of 10.55% and a return on equity of 15.63%. The firm had revenue of $417.40 million for the quarter, compared to analyst estimates of $397.48 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Analysts predict that Adtalem Global Education Inc. will post 5.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Adtalem Global Education news, Director Lisa W. Wardell sold 24,637 shares of Adtalem Global Education stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $75.60, for a total transaction of $1,862,557.20. Following the transaction, the director now directly owns 105,085 shares in the company, valued at approximately $7,944,426. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Lisa W. Wardell sold 24,637 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $75.60, for a total transaction of $1,862,557.20. Following the transaction, the director now directly owns 105,085 shares in the company, valued at $7,944,426. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Manjunath Gangadharan sold 944 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $75.40, for a total transaction of $71,177.60. Following the transaction, the chief accounting officer now owns 4,720 shares in the company, valued at approximately $355,888. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,440 shares of company stock worth $10,889,450. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Adtalem Global Education

Several institutional investors and hedge funds have recently modified their holdings of ATGE. Pacer Advisors Inc. grew its holdings in shares of Adtalem Global Education by 81,701.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,330,088 shares of the company’s stock valued at $90,725,000 after acquiring an additional 1,328,462 shares in the last quarter. LSV Asset Management lifted its stake in shares of Adtalem Global Education by 2,360.6% in the 2nd quarter. LSV Asset Management now owns 644,666 shares of the company’s stock valued at $43,973,000 after purchasing an additional 618,466 shares during the last quarter. Ariel Investments LLC lifted its stake in shares of Adtalem Global Education by 11.1% in the 1st quarter. Ariel Investments LLC now owns 3,079,317 shares of the company’s stock valued at $158,277,000 after purchasing an additional 306,699 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Adtalem Global Education by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 4,422,158 shares of the company’s stock valued at $227,299,000 after purchasing an additional 100,705 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Adtalem Global Education by 511.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 78,828 shares of the company’s stock valued at $5,950,000 after purchasing an additional 65,945 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

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.