KLP Kapitalforvaltning AS Cuts Stake in Adtalem Global Education Inc. (NYSE:ATGE)

KLP Kapitalforvaltning AS lowered its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,300 shares of the company’s stock after selling 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Adtalem Global Education were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ATGE. Fifth Third Bancorp grew its position in Adtalem Global Education by 56.8% in the first quarter. Fifth Third Bancorp now owns 287 shares of the company’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Adtalem Global Education in the 1st quarter worth $31,000. Sterling Capital Management LLC raised its position in Adtalem Global Education by 774.8% during the 4th quarter. Sterling Capital Management LLC now owns 971 shares of the company’s stock worth $88,000 after buying an additional 860 shares during the last quarter. USA Financial Formulas raised its holdings in shares of Adtalem Global Education by 214.9% during the first quarter. USA Financial Formulas now owns 888 shares of the company’s stock worth $89,000 after purchasing an additional 606 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Adtalem Global Education by 18.2% in the 4th quarter. Federated Hermes Inc. now owns 1,497 shares of the company’s stock valued at $136,000 after buying an additional 231 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William W. Burke sold 2,291 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was 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 of the company’s stock, valued at $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Adtalem Global Education Stock Down 0.0%

ATGE stock opened at $113.80 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $4.24 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. Adtalem Global Education Inc. has a one year low of $67.30 and a one year high of $140.12. The company has a fifty day moving average of $122.96 and a 200-day moving average of $111.10.

Adtalem Global Education (NYSE:ATGE) last announced its quarterly earnings data 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 net margin of 13.34% and a return on equity of 17.47%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 earnings per share. As a group, analysts expect that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BMO Capital Markets upped their price objective 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 assumed coverage on shares of Adtalem Global Education in a research report on Wednesday, April 23rd. They set a “buy” rating and a $135.00 price target for the company. Finally, Barrington Research lifted their price objective on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, May 9th.

Adtalem Global Education Company 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.