Adtalem Global Education (NYSE:ATGE) Stock Price Down 5.5% After Insider Selling

Adtalem Global Education Inc. (NYSE:ATGE) traded down 5.5% during trading on Monday after an insider sold shares in the company. The company traded as low as $122.93 and last traded at $121.12. 36,148 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 456,792 shares. The stock had previously closed at $128.23.

Specifically, Director William W. Burke sold 2,291 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of the sale, the director now owns 9,368 shares of the company’s stock, valued at approximately $1,202,382.80. This represents a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ATGE. Wall Street Zen lowered Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th. Jefferies Financial Group began coverage on 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. BMO Capital Markets increased their price objective 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. Finally, Barrington Research raised their price target on Adtalem Global Education from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th.

Adtalem Global Education Price Performance

The business has a 50 day moving average of $116.59 and a 200 day moving average of $103.80. The company has a market cap of $4.52 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.05 and a beta of 0.92. 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 posted its quarterly earnings data on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.29. The business had revenue of $466.06 million during the quarter, compared to the consensus estimate of $447.19 million. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 earnings per share. As a group, research analysts predict that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

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

Hedge Funds Weigh In On Adtalem Global Education

A number of institutional investors have recently added to or reduced their stakes in the company. Invst LLC raised its holdings in Adtalem Global Education by 209.1% in the first quarter. Invst LLC now owns 8,198 shares of the company’s stock worth $825,000 after purchasing an additional 5,546 shares in the last quarter. Strs Ohio bought a new position in shares of Adtalem Global Education during the first quarter valued at $1,167,000. Acadian Asset Management LLC increased its holdings in shares of Adtalem Global Education by 222.0% during the first quarter. Acadian Asset Management LLC now owns 27,758 shares of the company’s stock valued at $2,790,000 after acquiring an additional 19,137 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Adtalem Global Education by 205.8% during the first quarter. Intech Investment Management LLC now owns 82,009 shares of the company’s stock valued at $8,253,000 after acquiring an additional 55,195 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Adtalem Global Education by 9.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,200 shares of the company’s stock valued at $9,782,000 after acquiring an additional 8,418 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

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.