Federated Hermes Inc. Sells 361 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Federated Hermes Inc. lowered its position in Adtalem Global Education Inc. (NYSE:ATGE) by 24.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,136 shares of the company’s stock after selling 361 shares during the period. Federated Hermes Inc.’s holdings in Adtalem Global Education were worth $114,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC bought a new position in Adtalem Global Education during the 4th quarter valued at approximately $403,000. Wells Fargo & Company MN increased its position in Adtalem Global Education by 20.0% during the 4th quarter. Wells Fargo & Company MN now owns 66,846 shares of the company’s stock valued at $6,073,000 after buying an additional 11,123 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Adtalem Global Education during the 4th quarter valued at approximately $234,000. Russell Investments Group Ltd. increased its position in Adtalem Global Education by 200.5% during the 4th quarter. Russell Investments Group Ltd. now owns 55,360 shares of the company’s stock valued at $5,029,000 after buying an additional 36,937 shares in the last quarter. Finally, Invesco Ltd. increased its position in Adtalem Global Education by 19.5% during the 4th quarter. Invesco Ltd. now owns 390,932 shares of the company’s stock valued at $35,516,000 after buying an additional 63,884 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They set a “buy” rating and a $135.00 price objective for the company. Barrington Research raised their price objective on Adtalem Global Education from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets raised their price objective on Adtalem Global Education from $115.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, May 12th.

Insider Activity

In other news, Director William W. Burke sold 2,291 shares of the firm’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 transaction, the director directly owned 9,368 shares in the company, valued at $1,202,382.80. This trade represents a 19.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Adtalem Global Education Stock Performance

Shares of ATGE opened at $121.99 on Monday. The business’s fifty day simple moving average is $120.82 and its two-hundred day simple moving average is $112.26. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Adtalem Global Education Inc. has a 12 month low of $68.60 and a 12 month high of $140.12. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 1.07 and a beta of 0.88.

Adtalem Global Education (NYSE:ATGE) last issued its earnings results on Thursday, August 7th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.51 by $0.15. Adtalem Global Education had a return on equity of 17.95% and a net margin of 13.26%. The business had revenue of $457.11 million for the quarter, compared to the consensus estimate of $440.93 million. During the same period last year, the business posted $1.37 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

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

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.