Adtalem Global Education (NYSE:ATGE) Shares Gap Up on Earnings Beat

Adtalem Global Education Inc. (NYSE:ATGE) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $102.42, but opened at $109.90. Adtalem Global Education shares last traded at $110.51, with a volume of 55,093 shares trading hands.

The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.42. Adtalem Global Education had a net margin of 10.55% and a return on equity of 15.63%.

Analyst Ratings Changes

A number of brokerages have issued reports on ATGE. BMO Capital Markets boosted their price target on shares of Adtalem Global Education from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Barrington Research boosted their price target on shares of Adtalem Global Education from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th.

Insider Activity

In other news, Director William W. Burke sold 4,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $90.39, for a total value of $361,560.00. Following the sale, the director now directly owns 11,659 shares in the company, valued at approximately $1,053,857.01. This trade represents a 25.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Adtalem Global Education

Large investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new position in shares of Adtalem Global Education during the 4th quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in Adtalem Global Education in the third quarter valued at approximately $27,000. Quarry LP purchased a new position in Adtalem Global Education in the second quarter valued at approximately $43,000. R Squared Ltd acquired a new stake in Adtalem Global Education during the fourth quarter worth approximately $70,000. Finally, GAMMA Investing LLC lifted its position in shares of Adtalem Global Education by 60.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,287 shares of the company’s stock worth $97,000 after buying an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Adtalem Global Education Stock Performance

The firm’s fifty day moving average price is $93.00 and its 200-day moving average price is $82.22. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.13 and a beta of 0.96.

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.