Adtalem Global Education Inc (NYSE:ATGE) traded up 5.6% on Friday following a better than expected earnings announcement. The stock traded as high as $56.36 and last traded at $52.79. 1,409,838 shares changed hands during trading, an increase of 203% from the average session volume of 465,862 shares. The stock had previously closed at $50.00.
The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Adtalem Global Education had a net margin of 2.38% and a return on equity of 10.49%. The company had revenue of $284.19 million for the quarter, compared to the consensus estimate of $296.12 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.
Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Adtalem Global Education from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday. Zacks Investment Research downgraded shares of Adtalem Global Education from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Piper Jaffray Companies upped their price target on shares of Adtalem Global Education to $63.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets reiterated a “buy” rating and set a $56.00 price target on shares of Adtalem Global Education in a research report on Wednesday, July 11th. Finally, Barrington Research upped their price target on shares of Adtalem Global Education from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, July 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $57.80.
In related news, Director Ronald L. Taylor sold 15,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $48.36, for a total transaction of $725,400.00. Following the transaction, the director now owns 510,615 shares in the company, valued at approximately $24,693,341.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ronald L. Taylor sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $48.64, for a total transaction of $2,432,000.00. Following the transaction, the insider now owns 450,615 shares in the company, valued at approximately $21,917,913.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,558 shares of company stock worth $3,764,240. 1.91% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Adtalem Global Education by 3.2% during the 2nd quarter. BlackRock Inc. now owns 6,592,289 shares of the company’s stock worth $317,090,000 after buying an additional 204,684 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Adtalem Global Education by 52.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,695,797 shares of the company’s stock worth $129,937,000 after purchasing an additional 932,920 shares during the last quarter. Northern Trust Corp raised its holdings in Adtalem Global Education by 4.0% during the 2nd quarter. Northern Trust Corp now owns 1,484,673 shares of the company’s stock worth $71,413,000 after purchasing an additional 56,924 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Adtalem Global Education by 81.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,281,046 shares of the company’s stock worth $61,617,000 after purchasing an additional 574,347 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its holdings in Adtalem Global Education by 2.5% during the 2nd quarter. Rothschild Asset Management Inc. now owns 879,936 shares of the company’s stock worth $42,325,000 after purchasing an additional 21,761 shares during the last quarter. Institutional investors and hedge funds own 93.74% of the company’s stock.
The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.38 and a beta of 0.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.88 and a quick ratio of 1.88.
Adtalem Global Education Company Profile (NYSE:ATGE)
Adtalem Global Education Inc provides educational services worldwide. It operates through three segments: Medical and Healthcare, Professional Education, and Technology and Business. The Medical and Healthcare segment operates Chamberlain University, which provides a pre-licensure bachelor's degree in nursing at 21 campus locations and post-licensure bachelor's, master's, and doctorate degree programs in nursing through its online platform; and operates medical and veterinary schools, including American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine.
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