Adtalem Global Education (NYSE:CVSA) Announces Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Adtalem Global Education (NYSE:CVSA) released its quarterly earnings data on Thursday. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.29, FiscalAI reports. Adtalem Global Education had a net margin of 12.84% and a return on equity of 21.89%. The business had revenue of $511.53 million during the quarter.

Adtalem Global Education Stock Performance

Shares of CVSA opened at $124.03 on Friday. Adtalem Global Education has a 52-week low of $86.97 and a 52-week high of $142.13. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.45. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.95 and a beta of 0.65. The business’s 50 day moving average is $127.97 and its two-hundred day moving average is $122.07.

Analyst Upgrades and Downgrades

CVSA has been the subject of a number of analyst reports. Truist Financial downgraded Adtalem Global Education from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a research report on Thursday, September 3rd. Wall Street Zen raised shares of Adtalem Global Education from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Weiss Ratings raised shares of Adtalem Global Education from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, October 21st. Finally, BMO Capital Markets reduced their target price on Adtalem Global Education from $148.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Adtalem Global Education has an average rating of “Hold” and a consensus price target of $151.67.

Insiders Place Their Bets

In other Adtalem Global Education news, CFO Robert Phelan sold 2,186 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $135.15, for a total value of $295,437.90. Following the completion of the transaction, the chief financial officer owned 48,306 shares of the company’s stock, valued at $6,528,555.90. This represents a 4.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Douglas Beck sold 4,526 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $135.81, for a total value of $614,676.06. Following the completion of the transaction, the senior vice president directly owned 28,544 shares of the company’s stock, valued at approximately $3,876,560.64. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,365 shares of company stock worth $2,704,088. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Adtalem Global Education

An institutional investor recently raised its stake in Adtalem Global Education stock. Kendall Capital Management lifted its holdings in shares of Adtalem Global Education Inc. (NYSE:CVSA) by 23.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,375 shares of the company’s stock after acquiring an additional 2,753 shares during the quarter. Kendall Capital Management’s holdings in Adtalem Global Education were worth $1,757,000 as of its most recent SEC filing. 98.84% of the stock is currently owned by institutional investors and hedge funds.

About Adtalem Global Education

Adtalem Global Education, Inc is an education services company that provides healthcare and professional education through institutions serving students in the United States and internationally. The company focuses on preparing students for careers in healthcare, including nursing, medicine, veterinary medicine and other health-related fields.

Its portfolio has included Chamberlain University, Walden University, the American University of the Caribbean School of Medicine, Ross University School of Medicine and Ross University School of Veterinary Medicine.