Adtalem Global Education Inc. (NYSE:ATGE) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in Adtalem Global Education Inc. (NYSE:ATGE) by 39.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,338 shares of the company’s stock after selling 52,744 shares during the period. Bank of America Corp DE owned about 0.21% of Adtalem Global Education worth $7,208,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ATGE. R Squared Ltd purchased a new stake in Adtalem Global Education in the 4th quarter worth approximately $70,000. Parkside Financial Bank & Trust boosted its stake in Adtalem Global Education by 4,850.0% during the 4th 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. Smartleaf Asset Management LLC raised its stake in Adtalem Global Education by 196.9% during the 4th 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 last quarter. Sterling Capital Management LLC lifted its stake in shares of Adtalem Global Education by 774.8% in the fourth quarter. Sterling Capital Management LLC now owns 971 shares of the company’s stock valued at $88,000 after buying an additional 860 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Adtalem Global Education by 18.2% during the 4th quarter. Federated Hermes Inc. now owns 1,497 shares of the company’s stock worth $136,000 after purchasing an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ATGE. Wall Street Zen downgraded Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. BMO Capital Markets lifted their target price 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. Barrington Research lifted their target price on shares of Adtalem Global Education from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Finally, Jefferies Financial Group initiated coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They set a “buy” rating and a $135.00 price objective for the company.

Adtalem Global Education Stock Performance

Shares of Adtalem Global Education stock opened at $128.70 on Monday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. Adtalem Global Education Inc. has a one year low of $62.28 and a one year high of $140.12. The stock’s 50-day moving average is $110.48 and its 200-day moving average is $100.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.06 and a quick ratio of 1.06.

Adtalem Global Education (NYSE:ATGE) last issued 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 firm had revenue of $466.06 million during the quarter, compared to analysts’ expectations of $447.19 million. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 earnings per share. Equities analysts predict 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 initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually 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.