Shares of Adtalem Global Education Inc. (NYSE:ATGE – Get a rating) hit a new 52-week high midday on Friday after a stronger-than-expected earnings report. The company traded as high as $43.45 and last traded at $41.66, with volume at 1998 shares changing hands. The stock previously closed at $41.86.
The company reported EPS of $0.88 for the quarter, beating the consensus estimate of $0.75 by $0.13. The company posted revenue of $354.56 million for the quarter, versus analyst estimates of $353.41 million. Adtalem Global Education achieved a net margin of 21.97% and a return on equity of 12.38%. The company’s revenue for the quarter increased 22.7% year over year. In the same quarter a year earlier, the company posted earnings per share of $0.62.
A Wall Street analyst gives his opinion
Several equity analysts have recently weighed in on the stock. Robert W. Baird raised his price target on Adtalem Global Education shares from $31.00 to $40.00 in a Friday, August 12 research note. StockNews.com began covering Adtalem Global Education stocks in a research note on Wednesday, October 12. They set a “hold” rating for the company. Finally, Barrington Research raised its price target on Adtalem Global Education shares from $46.00 to $48.00 in a research note on Friday.
Insider Trading at Adtalem Global Education
In other news, Director Lyle Logan sold 2,600 shares of the company in a trade that took place on Thursday, September 15. The shares were sold at an average price of $38.14, for a total value of $99,164.00. Following the completion of the sale, the administrator now directly owns 29,323 shares of the company, valued at approximately $1,118,379.22. The sale was disclosed in an SEC filing, available at this hyperlink. Insiders of the company hold 3.30% of the shares of the company.
Institutional investors weigh in on Adtalem Global Education
A number of hedge funds and other institutional investors have recently increased or reduced their stake in ATGE. KBC Group NV bought a new position in Adtalem Global Education during the 2nd quarter for a value of $158,000. Veriti Management LLC bought a new position in Adtalem Global Education during the 2nd quarter at a value of $209,000. Peregrine Capital Management LLC bought a new position in Adtalem Global Education during Q2 at a value of $12,591,000. GHE LLC bought a new position in Adtalem Global Education during the 2nd quarter at a value of $77,000. Finally, Cypress Capital LLC purchased a new equity stake in Adtalem Global Education in Q2 worth approximately $220,000.
Adtalem Global Education Stock down 1.1%
The stock’s 50-day moving average price is $38.07 and its two-hundred-day moving average price is $35.91. The stock has a market capitalization of $1.88 billion, a PE ratio of 6.41, a P/E/G ratio of 0.68 and a beta of 1.01. 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 Company Profile
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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