Adtalem Global Education Inc. (NYSE:ATGE) Short Interest Down 10.7% in August

Adtalem Global Education Inc. (NYSE: ATGE – Get a rating) benefited from a significant drop in short-term interest rates during the month of August. As of August 31, there was short interest totaling 3,670,000 shares, down 10.7% from the total of 4,110,000 shares as of August 15. Based on an average daily trading volume of 450,100 shares, the short interest ratio is currently 8.2 days. Currently, 8.4% of the company’s shares are sold short.

Adtalem Global Education is trading down 1.9%

Shares of NYSE ATGE traded down $0.71 midday on Monday, hitting $36.56. 6,102 shares of the company were traded, against an average volume of 457,434. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 0.61 and a beta of 1.03. The company has a debt ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33. Adtalem Global Education has a 52-week low of $19.14 and a 52-week high of $41.40. The company’s 50-day moving average is $38.59 and its 200-day moving average is $33.62.

Adtalem Global Education (NYSE: ATGE – Get a rating) last released its quarterly results on Thursday, August 11. The company reported earnings per share of $1.31 for the quarter, beating analyst consensus estimates of $1.25 by $0.06. The company posted revenue of $361.23 million in the quarter, compared to $348.90 million expected by analysts. Adtalem Global Education achieved a return on equity of 12.38% and a net margin of 21.97%. The company’s revenue increased by 61.6% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $0.70. Analysts expect Adtalem Global Education to post an EPS of 4.08 for the current financial year.

Insider Activity at Adtalem Global Education

In related news, director Lyle Logan sold 2,600 shares of the company in a trade that took place on Thursday, September 15. The stock was sold at an average price of $38.14, for a total value of $99,164.00. Following the sale, the administrator now owns 29,323 shares of the company, valued at $1,118,379.22. The sale was disclosed in a legal filing with the SEC, which is available via this link. 2.75% of the shares are held by insiders.

Hedge funds weigh on Adtalem Global Education

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ariel Investments LLC increased its stake in shares of Adtalem Global Education by 35.4% in the 4th quarter. Ariel Investments LLC now owns 5,029,760 shares of the company valued at $148,680,000 after purchasing an additional 1,314,979 shares during the period. Goldman Sachs Group Inc. increased its equity stake in Adtalem Global Education by 1,102.1% in Q2. Goldman Sachs Group Inc. now owns 922,481 shares of the company valued at $33,182,000 after purchasing an additional 845,743 shares during the period. Peregrine Capital Management LLC bought a new position in shares of Adtalem Global Education in Q2, valued at approximately $12,591,000. Millennium Management LLC purchased a new stock position in Adtalem Global Education in Q2, valued at approximately $12,230,000. Finally, Royce & Associates LP increased its stake in shares of Adtalem Global Education by 1,570.0% in the 1st quarter. Royce & Associates LP now owns 248,378 shares of the company valued at $7,379,000 after purchasing an additional 233,505 shares during the period.

Analysts set new price targets

Several equity research analysts have commented on the ATGE stock. Barrington Research raised its price target on Adtalem Global Education from $40.00 to $46.00 and gave the stock an “outperform” rating in a Friday, August 12 research report. Robert W. Baird raised his price target on Adtalem Global Education from $31.00 to $40.00 in a Friday, August 12 research report.

Adtalem Global Education Company Profile

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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 post-secondary education sector. This segment operates Chamberlain University.

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