Adtalem Global Education (NYSE:ATGE) to Repurchase $150.00 million in Outstanding Shares

Adtalem Global Education (NYSE:ATGE) announced that its board has approved a stock repurchase plan on Tuesday, May 6th, RTT News reports. The company plans to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ATGE shares. Jefferies Financial Group began coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They issued a “buy” rating and a $135.00 price objective on the stock. BMO Capital Markets upped their price objective on Adtalem Global Education from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. StockNews.com cut shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, Barrington Research reissued an “outperform” rating and set a $120.00 target price on shares of Adtalem Global Education in a report on Tuesday, April 15th.

Adtalem Global Education Stock Down 0.8 %

NYSE:ATGE opened at $113.05 on Wednesday. The firm’s 50 day simple moving average is $101.91 and its 200 day simple moving average is $95.92. The company has a market cap of $4.21 billion, a PE ratio of 21.05, a P/E/G ratio of 1.05 and a beta of 0.86. Adtalem Global Education has a one year low of $61.65 and a one year high of $115.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.06 and a quick ratio of 1.06.

Insider Activity

In related news, Director Donna J. Hrinak sold 4,812 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $103.26, for a total transaction of $496,887.12. Following the transaction, the director now directly owns 8,032 shares of the company’s stock, valued at $829,384.32. This represents a 37.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Betz sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $108.57, for a total value of $379,995.00. Following the transaction, the insider now directly owns 16,881 shares in the company, valued at approximately $1,832,770.17. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,997 shares of company stock valued at $1,386,048. 2.00% of the stock is currently owned by insiders.

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.