Adtalem Global Education (NYSE:ATGE) Reaches New 1-Year High Following Better-Than-Expected Earnings

Adtalem Global Education Inc. (NYSE:ATGE) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $81.45 and last traded at $81.34, with a volume of 57081 shares trading hands. The stock had previously closed at $74.99.

The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.17. Adtalem Global Education had a net margin of 8.63% and a return on equity of 14.84%. The business had revenue of $417.40 million during the quarter, compared to analyst estimates of $397.48 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ATGE. StockNews.com downgraded Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Thursday. BMO Capital Markets raised their price objective on shares of Adtalem Global Education from $84.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Barrington Research boosted their target price on shares of Adtalem Global Education from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday.

Insider Activity

In related news, CAO Manjunath Gangadharan sold 944 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $75.40, for a total transaction of $71,177.60. Following the transaction, the chief accounting officer now directly owns 4,720 shares in the company, valued at $355,888. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Adtalem Global Education news, Director Lisa W. Wardell sold 7,292 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $72.10, for a total value of $525,753.20. Following the transaction, the director now owns 105,085 shares of the company’s stock, valued at approximately $7,576,628.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Manjunath Gangadharan sold 944 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $75.40, for a total transaction of $71,177.60. Following the completion of the sale, the chief accounting officer now owns 4,720 shares of the company’s stock, valued at $355,888. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,440 shares of company stock valued at $10,889,450. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Adtalem Global Education

A number of hedge funds have recently modified their holdings of ATGE. Quarry LP bought a new stake in Adtalem Global Education during the second quarter worth about $43,000. Covestor Ltd raised its stake in Adtalem Global Education by 7,430.0% during the first quarter. Covestor Ltd now owns 753 shares of the company’s stock worth $38,000 after acquiring an additional 743 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Adtalem Global Education by 116.7% during the second quarter. GAMMA Investing LLC now owns 804 shares of the company’s stock worth $55,000 after buying an additional 433 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Adtalem Global Education during the 1st quarter worth $53,000. Finally, Headlands Technologies LLC bought a new stake in shares of Adtalem Global Education during the first quarter worth about $56,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Adtalem Global Education Price Performance

The company’s 50 day moving average price is $74.05 and its 200-day moving average price is $68.74. The stock has a market cap of $3.04 billion, a P/E ratio of 30.42, a P/E/G ratio of 0.84 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

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.