Vanguard Group Inc. Cuts Stock Position in Adtalem Global Education Inc. (NYSE:ATGE)

Vanguard Group Inc. lowered its position in Adtalem Global Education Inc. (NYSE:ATGE) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,590,622 shares of the company’s stock after selling 2,723 shares during the period. Vanguard Group Inc. owned approximately 12.32% of Adtalem Global Education worth $462,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC grew its position in Adtalem Global Education by 26.6% during the 1st quarter. New Age Alpha Advisors LLC now owns 2,483 shares of the company’s stock worth $250,000 after purchasing an additional 522 shares during the last quarter. Allianz SE purchased a new stake in Adtalem Global Education during the 1st quarter worth approximately $449,000. Alberta Investment Management Corp purchased a new stake in Adtalem Global Education during the 1st quarter worth approximately $996,000. US Bancorp DE grew its position in Adtalem Global Education by 3.9% during the 1st quarter. US Bancorp DE now owns 3,414 shares of the company’s stock worth $344,000 after purchasing an additional 129 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Adtalem Global Education by 12.9% during the 1st quarter. Natixis Advisors LLC now owns 13,482 shares of the company’s stock worth $1,357,000 after purchasing an additional 1,537 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Adtalem Global Education Stock Performance

Shares of NYSE ATGE opened at $128.87 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Adtalem Global Education Inc. has a 12 month low of $68.60 and a 12 month high of $140.12. The company has a 50 day simple moving average of $120.52 and a two-hundred day simple moving average of $113.04. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.11 and a beta of 0.88.

Adtalem Global Education (NYSE:ATGE) last posted its earnings results on Thursday, August 7th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.15. Adtalem Global Education had a net margin of 13.26% and a return on equity of 17.95%. The firm had revenue of $457.11 million during the quarter, compared to analysts’ expectations of $440.93 million. During the same period in the previous year, the business posted $1.37 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, analysts predict that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

Adtalem Global Education declared that its board has initiated a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director William W. Burke sold 2,291 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total value of $294,049.85. Following the completion of the transaction, the director directly owned 9,368 shares in the company, valued at $1,202,382.80. The trade was a 19.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ATGE has been the topic of several research analyst reports. BMO Capital Markets boosted their target price 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. Jefferies Financial Group started coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They set a “buy” rating and a $135.00 price objective for the company. Finally, Barrington Research set a $150.00 price objective on shares of Adtalem Global Education and gave the company an “outperform” rating in a research note on Friday, August 8th.

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.