Adtalem Global Education (NYSE:ATGE) Shares Gap Up on Better-Than-Expected Earnings

Shares of Adtalem Global Education Inc. (NYSE:ATGEGet Free Report) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $47.68, but opened at $50.79. Adtalem Global Education shares last traded at $49.26, with a volume of 298,179 shares.

The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.23. Adtalem Global Education had a return on equity of 12.98% and a net margin of 7.02%. The firm had revenue of $393.24 million for the quarter, compared to analyst estimates of $372.79 million. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barrington Research raised their price target on Adtalem Global Education from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. StockNews.com raised Adtalem Global Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Robert W. Baird raised Adtalem Global Education from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $47.00 to $55.00 in a research report on Friday, October 27th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adtalem Global Education presently has a consensus rating of “Buy” and an average target price of $56.67.

View Our Latest Research Report on Adtalem Global Education

Insider Activity at Adtalem Global Education

In related news, Director Lisa W. Wardell sold 20,233 shares of Adtalem Global Education stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $55.01, for a total value of $1,113,017.33. Following the sale, the director now owns 161,238 shares of the company’s stock, valued at approximately $8,869,702.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Lisa W. Wardell sold 20,233 shares of Adtalem Global Education stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $55.01, for a total value of $1,113,017.33. Following the sale, the director now owns 161,238 shares of the company’s stock, valued at approximately $8,869,702.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Maurice Herrera sold 4,200 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $60.00, for a total value of $252,000.00. Following the completion of the transaction, the chief marketing officer now owns 24,519 shares of the company’s stock, valued at $1,471,140. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,155 shares of company stock valued at $3,002,637. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Daiwa Securities Group Inc. grew its stake in Adtalem Global Education by 19.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,280 shares of the company’s stock valued at $75,000 after purchasing an additional 210 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Adtalem Global Education by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,013 shares of the company’s stock worth $619,000 after acquiring an additional 226 shares during the period. Signaturefd LLC boosted its stake in shares of Adtalem Global Education by 30.3% during the 2nd quarter. Signaturefd LLC now owns 1,037 shares of the company’s stock worth $36,000 after acquiring an additional 241 shares during the period. Clear Creek Financial Management LLC boosted its stake in shares of Adtalem Global Education by 2.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 9,728 shares of the company’s stock worth $417,000 after acquiring an additional 262 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Adtalem Global Education by 65.2% during the 3rd quarter. Royal Bank of Canada now owns 727 shares of the company’s stock worth $27,000 after acquiring an additional 287 shares during the period. 95.77% of the stock is currently owned by institutional investors.

Adtalem Global Education Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $58.84 and a 200 day moving average price of $50.34. The company has a market capitalization of $2.01 billion, a P/E ratio of 22.24, a P/E/G ratio of 0.91 and a beta of 0.92.

Adtalem Global Education Company Profile

(Get Free Report)

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.

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