BlackRock Inc. grew its stake in Adtalem Global Education Inc (NYSE:ATGE) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,592,289 shares of the company’s stock after acquiring an additional 204,684 shares during the period. BlackRock Inc. owned about 10.94% of Adtalem Global Education worth $317,090,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Bayesian Capital Management LP purchased a new stake in shares of Adtalem Global Education in the 1st quarter valued at approximately $268,000. Evergreen Capital Management LLC purchased a new stake in shares of Adtalem Global Education in the 1st quarter valued at approximately $313,000. Cambria Investment Management L.P. purchased a new stake in shares of Adtalem Global Education in the 1st quarter valued at approximately $318,000. Xact Kapitalforvaltning AB raised its stake in shares of Adtalem Global Education by 50.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 8,595 shares of the company’s stock valued at $409,000 after acquiring an additional 2,900 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Adtalem Global Education in the 2nd quarter valued at approximately $447,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.
In other Adtalem Global Education news, insider Donna Jennings sold 9,375 shares of the stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $51.40, for a total value of $481,875.00. Following the sale, the insider now directly owns 13,709 shares of the company’s stock, valued at approximately $704,642.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronald L. Taylor sold 15,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $48.36, for a total transaction of $725,400.00. Following the completion of the sale, the director now directly owns 510,615 shares in the company, valued at $24,693,341.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,433 shares of company stock worth $4,438,615. 3.04% of the stock is owned by insiders.
Shares of ATGE opened at $44.85 on Friday. Adtalem Global Education Inc has a fifty-two week low of $30.71 and a fifty-two week high of $56.45. The company has a market cap of $2.67 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.19.
Adtalem Global Education (NYSE:ATGE) last announced its earnings results on Thursday, August 16th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.05). Adtalem Global Education had a return on equity of 10.49% and a net margin of 2.38%. The business had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $352.68 million. During the same period in the previous year, the company earned $0.67 earnings per share. Adtalem Global Education’s quarterly revenue was up 1.5% on a year-over-year basis. research analysts forecast that Adtalem Global Education Inc will post 2.78 earnings per share for the current fiscal year.
ATGE has been the topic of several recent research reports. First Analysis upped their target price on shares of Adtalem Global Education to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 29th. Zacks Investment Research raised shares of Adtalem Global Education from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Barrington Research upped their target price on shares of Adtalem Global Education from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, July 9th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $56.00 target price on shares of Adtalem Global Education in a research note on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.60.
Adtalem Global Education Company Profile
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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