Archford Capital Strategies LLC Buys Shares of 8,603 Adtalem Global Education Inc. (NYSE:ATGE)

Archford Capital Strategies LLC bought a new stake in Adtalem Global Education Inc. (NYSE:ATGE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,603 shares of the company’s stock, valued at approximately $866,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in shares of Adtalem Global Education by 56.8% during the first quarter. Fifth Third Bancorp now owns 287 shares of the company’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Adtalem Global Education during the first quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its position in shares of Adtalem Global Education by 4,850.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 792 shares of the company’s stock valued at $72,000 after purchasing an additional 776 shares during the period. USA Financial Formulas increased its position in shares of Adtalem Global Education by 214.9% during the first quarter. USA Financial Formulas now owns 888 shares of the company’s stock valued at $89,000 after purchasing an additional 606 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Adtalem Global Education by 196.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 956 shares of the company’s stock valued at $86,000 after purchasing an additional 634 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ATGE shares. Barrington Research boosted their price objective on Adtalem Global Education from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Jefferies Financial Group began coverage on Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $135.00 price target on the stock. Wall Street Zen lowered Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, 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 note on Monday, May 12th.

Insiders Place Their Bets

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the transaction, the director now owns 9,368 shares of the company’s stock, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Adtalem Global Education Price Performance

Shares of ATGE stock opened at $123.43 on Thursday. The stock’s fifty day simple moving average is $121.49 and its 200 day simple moving average is $106.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.29 and a beta of 0.92. Adtalem Global Education Inc. has a one year low of $64.75 and a one year high of $140.12.

Adtalem Global Education (NYSE:ATGE) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.63 by $0.29. The business had revenue of $466.06 million for the quarter, compared to analyst estimates of $447.19 million. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. Adtalem Global Education’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 EPS. On average, analysts expect that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education announced that its board has authorized a share repurchase 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Adtalem Global Education

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.