Adtalem Global Education (NYSE:ATGE) sets new 12-month record after earnings beat expectations

Shares of Adtalem Global Education Inc. (NYSE:ATGEGet 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

(Get a rating)

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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