Adtalem Global Education (NYSE:ATGE) Shares 8.1% Rise After Insider Buying Activity

Shares of Adtalem Global Education Inc. (NYSE:ATGE) jumped 8.1% on Friday following insider buying activity. The stock traded as high as $24.88 and last traded at $24.61. 9,407 shares were traded during trading, down 98% from the average session volume of 411,522 shares. The stock previously closed at $22.77. Specifically, director Kenneth J. Phelan purchased 4,087 shares of the company in a transaction that took place on Thursday, February 10. The shares were purchased at an average cost of $24.47 per share, for a total transaction of $100,008.89. The acquisition was disclosed in a legal filing with the SEC, which is available via this hyperlink. Also, President Lisa W. Wardell bought 4,020 shares of the company in a transaction that took place on Thursday, February 10. The shares were acquired at an average price of $24.48 per share, for a total transaction of $98,409.60. Disclosure of this purchase can be found here. Insiders purchased a total of 8,157 shares of the company worth $199,871 during the last quarter. Insiders of the company hold 2.75% of the shares of the company.

Several research analysts have weighed in on the company recently. BMO Capital Markets lowered its target price on Adtalem Global Education from $37.00 to $32.00 in a research note on Thursday. Zacks Investment Research moved Adtalem Global Education from a “strong buy” rating to a “hold” rating and set a price target of $38.00 for the company. in a research report on Wednesday, October 20.

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The company has a market capitalization of $1.22 billion, a price/earnings ratio of -351.57, a PEG ratio of 0.45 and a beta of 1.02. The company has a fifty-day moving average price of $29.32 and a 200-day moving average price of $33.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt ratio of 1.26.

Adtalem Global Education (NYSE:ATGE) last released its quarterly earnings data on Tuesday, February 8. The company reported earnings per share (EPS) of $0.75 for the quarter, missing Thomson Reuters consensus estimate of $0.96 per ($0.21). The company posted revenue of $371.20 million in the quarter, versus analyst estimates of $419.27 million. Adtalem Global Education recorded a negative net margin of 0.09% and a positive return on equity of 11.09%. The company’s quarterly revenue increased by 58.4% compared to the same quarter last year. During the same period last year, the company achieved EPS of $0.77. As a group, research analysts expect Adtalem Global Education Inc. to post earnings per share of 4.2 for the current fiscal year.

A number of hedge funds have recently changed their holdings of ATGE. Signaturefd LLC increased its stake in Adtalem Global Education by 47.0% in Q4. Signaturefd LLC now owns 1,039 shares of the company valued at $31,000 after acquiring 332 additional shares during the period. Maryland State Retirement & Pension System increased its stake in Adtalem Global Education by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 19,840 shares of the company valued at $586,000 after acquiring 393 additional shares during the period. Credit Suisse AG increased its stake in Adtalem Global Education by 1.1% in the third quarter. Credit Suisse AG now owns 41,579 shares of the company valued at $1,571,000 after acquiring 438 additional shares during the period. Davy Global Fund Management Ltd increased its stake in Adtalem Global Education by 4.7% during the 4th quarter. Davy Global Fund Management Ltd now owns 11,808 shares in the company worth $349,000 after buying an additional 534 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Adtalem Global Education by 4.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,388 shares of the company worth $507,000 after purchasing an additional 626 shares in the last quarter. Institutional investors hold 98.58% of the company’s shares.

About Adtalem Global Education (NYSE:ATGE)

Adtalem Global Education, Inc is committed to providing workforce solutions. It operates through the following segments: Medical and Healthcare, and Financial Services. The Medical and Healthcare segment offers degree and non-degree programs in the medical and healthcare post-secondary education sector.

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