Adtalem Global Education (NYSE:ATGE) Hits New 12-Month High on Strong Earnings

Adtalem Global Education Inc. (NYSE:ATGE)’s share price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $101.45 and last traded at $101.44, with a volume of 507 shares changing hands. The stock had previously closed at $99.86.

The company reported $1.81 EPS for the quarter, beating 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com lowered Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Barrington Research upped their price objective on Adtalem Global Education from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BMO Capital Markets raised their target price on Adtalem Global Education from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th.

Insider Transactions at Adtalem Global Education

In other Adtalem Global Education news, Director William W. Burke sold 4,000 shares of Adtalem Global Education stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,659 shares of the company’s stock, valued at approximately $1,053,857.01. The trade was a 25.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Adtalem Global Education

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in Adtalem Global Education by 1.6% during the third quarter. State Street Corp now owns 1,525,748 shares of the company’s stock worth $115,163,000 after purchasing an additional 23,464 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Adtalem Global Education by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 994,292 shares of the company’s stock worth $75,049,000 after buying an additional 6,842 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Adtalem Global Education by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 200,624 shares of the company’s stock worth $18,227,000 after buying an additional 7,069 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Adtalem Global Education by 4.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 101,757 shares of the company’s stock valued at $7,681,000 after acquiring an additional 4,246 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. grew its position in Adtalem Global Education by 33.5% during the third quarter. Peregrine Asset Advisers Inc. now owns 85,123 shares of the company’s stock valued at $6,425,000 after acquiring an additional 21,373 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Adtalem Global Education Price Performance

The company has a 50 day simple moving average of $93.34 and a 200 day simple moving average of $82.44. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47.

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.