Allspring Global Investments Holdings LLC Sells 23,711 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Allspring Global Investments Holdings LLC reduced its position in Adtalem Global Education Inc. (NYSE:ATGE) by 28.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 59,907 shares of the company’s stock after selling 23,711 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Adtalem Global Education worth $6,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ATGE. US Bancorp DE raised its stake in shares of Adtalem Global Education by 4.8% during the fourth quarter. US Bancorp DE now owns 3,285 shares of the company’s stock worth $298,000 after buying an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Adtalem Global Education by 196.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 956 shares of the company’s stock worth $86,000 after acquiring an additional 634 shares during the period. Atria Investments Inc grew its holdings in Adtalem Global Education by 17.8% during the 4th quarter. Atria Investments Inc now owns 5,562 shares of the company’s stock worth $505,000 after acquiring an additional 841 shares during the period. Aigen Investment Management LP bought a new stake in shares of Adtalem Global Education during the 4th quarter valued at $439,000. Finally, Arizona State Retirement System lifted its stake in shares of Adtalem Global Education by 1.0% in the 4th quarter. Arizona State Retirement System now owns 10,939 shares of the company’s stock valued at $994,000 after purchasing an additional 110 shares during the period. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ATGE. 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. Barrington Research raised their target price on Adtalem Global Education from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. BMO Capital Markets boosted their target price on Adtalem Global Education from $115.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Finally, Wall Street Zen downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th.

Adtalem Global Education Price Performance

Shares of ATGE stock opened at $122.92 on Friday. Adtalem Global Education Inc. has a 12-month low of $66.90 and a 12-month high of $140.12. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $124.41 and a 200-day moving average of $108.13.

Adtalem Global Education (NYSE:ATGE) last posted its earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The firm had revenue of $466.06 million for the quarter, compared to analyst estimates of $447.19 million. During the same period in the previous year, the company posted $1.50 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts forecast that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

Adtalem Global Education declared that its Board of Directors has authorized a share buyback program on Tuesday, May 6th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction that occurred 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 transaction, the director owned 9,368 shares of the company’s stock, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Adtalem Global Education Profile

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.