Meeder Asset Management Inc. Buys New Position in Adtalem Global Education Inc. (NYSE:ATGE)

Meeder Asset Management Inc. acquired a new stake in shares of Adtalem Global Education Inc. (NYSE:ATGE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,262 shares of the company’s stock, valued at approximately $1,133,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its holdings in shares of 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 buying an additional 104 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Adtalem Global Education by 1.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,880 shares of the company’s stock valued at $1,196,000 after buying an additional 129 shares during the last quarter. Xponance Inc. lifted its stake in shares of Adtalem Global Education by 5.2% in the 1st quarter. Xponance Inc. now owns 3,040 shares of the company’s stock valued at $306,000 after purchasing an additional 151 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Adtalem Global Education by 6.4% in the 1st quarter. Vontobel Holding Ltd. now owns 2,559 shares of the company’s stock valued at $258,000 after purchasing an additional 155 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Adtalem Global Education by 5.4% in the 4th quarter. Quantinno Capital Management LP now owns 3,224 shares of the company’s stock valued at $293,000 after purchasing an additional 165 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Adtalem Global Education Trading Down 0.0%

Shares of Adtalem Global Education stock opened at $113.80 on Wednesday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. The company has a 50-day simple moving average of $122.96 and a 200 day simple moving average of $111.10. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.39. Adtalem Global Education Inc. has a 12-month low of $67.30 and a 12-month high of $140.12.

Adtalem Global Education (NYSE:ATGE) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $447.19 million. During the same period last year, the firm posted $1.50 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Research analysts expect that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education announced that its Board of Directors has approved a share buyback program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Buying and Selling at Adtalem Global Education

In other news, Director William W. Burke sold 2,291 shares of Adtalem Global Education 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 sale, the director directly owned 9,368 shares of the company’s stock, valued at approximately $1,202,382.80. This trade represents a 19.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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.