Adtalem Global Education (NYSE:ATGE) Trading Down 3.4% – Here’s What Happened

Shares of Adtalem Global Education Inc. (NYSE:ATGE) were down 3.4% during trading on Tuesday . The company traded as low as $127.46 and last traded at $128.71. Approximately 240,116 shares were traded during trading, a decline of 47% from the average daily volume of 456,163 shares. The stock had previously closed at $133.27.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ATGE shares. Wall Street Zen lowered shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th. Barrington Research increased their price target on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, May 9th. BMO Capital Markets raised their price objective on shares of Adtalem Global Education from $115.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group assumed coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $135.00 target price on the stock.

Adtalem Global Education Price Performance

The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 1.05 and a beta of 0.86. The company’s 50 day moving average is $114.13 and its 200 day moving average is $102.44. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.45.

Adtalem Global Education (NYSE:ATGE) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.29. The company had revenue of $466.06 million during the quarter, compared to the consensus estimate of $447.19 million. Adtalem Global Education had a net margin of 12.34% and a return on equity of 16.82%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 earnings per share. On average, equities research analysts anticipate that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ATGE. Barclays PLC boosted its holdings in shares of Adtalem Global Education by 12.1% in the 3rd quarter. Barclays PLC now owns 66,669 shares of the company’s stock valued at $5,031,000 after purchasing an additional 7,172 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Adtalem Global Education by 4.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,575 shares of the company’s stock worth $779,000 after buying an additional 347 shares during the last quarter. KBC Group NV boosted its stake in Adtalem Global Education by 31.9% in the fourth quarter. KBC Group NV now owns 1,654 shares of the company’s stock valued at $150,000 after buying an additional 400 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Adtalem Global Education by 4.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 65,130 shares of the company’s stock valued at $5,917,000 after buying an additional 2,619 shares in the last quarter. Finally, Caprock Group LLC grew its position in Adtalem Global Education by 16.7% in the fourth quarter. Caprock Group LLC now owns 4,291 shares of the company’s stock valued at $390,000 after acquiring an additional 613 shares during the last quarter. 98.84% of the stock is owned by 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.