Shares of Adtalem Global Education Inc. (NYSE:ATGE – Get Free Report) reached a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $47.25 and last traded at $46.01, with a volume of 44707 shares. The stock had previously closed at $43.94.
The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. The firm had revenue of $364.60 million for the quarter, compared to analyst estimates of $356.89 million. Adtalem Global Education had a return on equity of 13.67% and a net margin of 5.54%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS.
Wall Street Analyst Weigh In
ATGE has been the subject of a number of analyst reports. StockNews.com initiated coverage on Adtalem Global Education in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. TheStreet raised Adtalem Global Education from a “c+” rating to a “b-” rating in a research note on Wednesday, May 3rd. Barrington Research lifted their price objective on Adtalem Global Education from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets upgraded shares of Adtalem Global Education from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Friday, July 7th.
Insider Activity at Adtalem Global Education
In related news, Director Lisa W. Wardell sold 71,400 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $40.45, for a total transaction of $2,888,130.00. Following the transaction, the director now directly owns 180,034 shares in the company, valued at $7,282,375.30. The sale was disclosed in a filing with the SEC, which is available through this link. 3.30% of the stock is owned by company insiders.
Institutional Trading of Adtalem Global Education
A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Adtalem Global Education by 1,102.1% during the second quarter. Goldman Sachs Group Inc. now owns 922,481 shares of the company’s stock worth $33,182,000 after buying an additional 845,743 shares in the last quarter. Ariel Investments LLC raised its position in shares of Adtalem Global Education by 12.2% in the first quarter. Ariel Investments LLC now owns 5,641,162 shares of the company’s stock valued at $167,599,000 after buying an additional 611,402 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Adtalem Global Education in the fourth quarter valued at approximately $19,451,000. Norges Bank acquired a new stake in shares of Adtalem Global Education in the fourth quarter valued at approximately $12,885,000. Finally, Millennium Management LLC acquired a new stake in shares of Adtalem Global Education in the second quarter valued at approximately $12,230,000. Institutional investors and hedge funds own 99.85% of the company’s stock.
Adtalem Global Education Trading Up 0.4 %
The company has a debt-to-equity ratio of 0.46, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50-day moving average price is $39.80 and its two-hundred day moving average price is $39.75. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 0.69 and a beta of 0.96.
About Adtalem Global Education
Adtalem Global Education, Inc engages in the provision of workforce solutions. It operates through the following 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.
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