Short Interest in Adtalem Global Education Inc. (NYSE:ATGE) Declines By 8.9%

Adtalem Global Education Inc. (NYSE:ATGE) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,330,000 shares, a drop of 8.9% from the August 15th total of 1,460,000 shares. Based on an average daily volume of 499,100 shares, the short-interest ratio is currently 2.7 days. Currently, 3.6% of the shares of the company are sold short.

Adtalem Global Education Stock Performance

Shares of ATGE traded down $0.06 during mid-day trading on Wednesday, hitting $73.57. 438,245 shares of the company’s stock were exchanged, compared to its average volume of 490,524. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Adtalem Global Education has a 52 week low of $41.89 and a 52 week high of $80.18. The stock’s 50-day simple moving average is $74.21 and its 200-day simple moving average is $63.45. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 0.83 and a beta of 0.95.

Adtalem Global Education (NYSE:ATGE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. The firm had revenue of $409.91 million during the quarter, compared to analysts’ expectations of $398.64 million. Adtalem Global Education had a return on equity of 14.84% and a net margin of 8.63%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. On average, equities research analysts expect that Adtalem Global Education will post 5.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ATGE. StockNews.com upgraded Adtalem Global Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 8th. BMO Capital Markets increased their price objective on Adtalem Global Education from $76.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $90.00 target price on shares of Adtalem Global Education in a research report on Thursday, August 29th.

Insiders Place Their Bets

In other news, Director Lisa W. Wardell sold 67,330 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $71.51, for a total value of $4,814,768.30. Following the completion of the sale, the director now directly owns 94,804 shares of the company’s stock, valued at $6,779,434.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Lisa W. Wardell sold 24,637 shares of Adtalem Global Education stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $75.60, for a total transaction of $1,862,557.20. Following the completion of the sale, the director now owns 105,085 shares of the company’s stock, valued at approximately $7,944,426. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisa W. Wardell sold 67,330 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $71.51, for a total transaction of $4,814,768.30. Following the completion of the transaction, the director now directly owns 94,804 shares in the company, valued at $6,779,434.04. The disclosure for this sale can be found here. Insiders have sold a total of 148,440 shares of company stock valued at $10,889,450 over the last 90 days. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adtalem Global Education

Several institutional investors and hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. raised its position in shares of Adtalem Global Education by 14.8% in the 4th quarter. QRG Capital Management Inc. now owns 5,799 shares of the company’s stock valued at $342,000 after buying an additional 747 shares in the last quarter. Norges Bank acquired a new position in Adtalem Global Education during the fourth quarter valued at approximately $9,656,000. Corient Private Wealth LLC lifted its stake in Adtalem Global Education by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 100,798 shares of the company’s stock worth $5,942,000 after purchasing an additional 740 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Adtalem Global Education in the 4th quarter valued at $266,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Adtalem Global Education by 5.3% in the 4th quarter. Allianz Asset Management GmbH now owns 186,466 shares of the company’s stock valued at $10,992,000 after purchasing an additional 9,373 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

About Adtalem Global Education

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.