Adtalem Global Education (NYSE:ATGE) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Adtalem Global Education (NYSE:ATGE) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other brokerages also recently issued reports on ATGE. BMO Capital Markets raised their price objective on shares of Adtalem Global Education from $76.00 to $84.00 and gave the stock an outperform rating in a research report on Thursday, August 8th. Barrington Research reiterated an outperform rating and set a $90.00 target price on shares of Adtalem Global Education in a research note on Thursday, August 29th.

Adtalem Global Education Stock Down 1.4 %

Shares of NYSE ATGE opened at $74.21 on Tuesday. The business has a 50-day moving average price of $74.44 and a 200 day moving average price of $64.54. The stock has a market cap of $2.79 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 0.90 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Adtalem Global Education has a 52-week low of $41.89 and a 52-week high of $80.18.

Adtalem Global Education (NYSE:ATGE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The company had revenue of $409.91 million during the quarter, compared to analysts’ expectations of $398.64 million. Adtalem Global Education had a return on equity of 14.84% and a net margin of 8.63%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. Equities research analysts forecast that Adtalem Global Education will post 5.72 earnings per share for the current year.

Insider Buying and Selling

In other Adtalem Global Education news, Director Lisa W. Wardell sold 24,637 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $75.60, for a total transaction of $1,862,557.20. Following the completion of the transaction, the director now owns 105,085 shares in the company, valued at approximately $7,944,426. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Manjunath Gangadharan sold 944 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $75.40, for a total value of $71,177.60. Following the completion of the sale, the chief accounting officer now owns 4,720 shares in the company, valued at $355,888. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lisa W. Wardell sold 24,637 shares of Adtalem Global Education stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $75.60, for a total value of $1,862,557.20. Following the completion of the sale, the director now directly owns 105,085 shares in the company, valued at approximately $7,944,426. The disclosure for this sale can be found here. Insiders sold a total of 148,440 shares of company stock valued at $10,889,450 over the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Adtalem Global Education

A number of institutional investors have recently modified their holdings of ATGE. Sanctuary Advisors LLC purchased a new position in Adtalem Global Education in the second quarter worth $670,000. Quarry LP acquired a new position in shares of Adtalem Global Education during the 2nd quarter worth $43,000. Algert Global LLC increased its holdings in shares of Adtalem Global Education by 30.6% in the 2nd quarter. Algert Global LLC now owns 122,511 shares of the company’s stock valued at $8,356,000 after purchasing an additional 28,698 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Adtalem Global Education by 23.4% in the 2nd quarter. Mackenzie Financial Corp now owns 40,311 shares of the company’s stock valued at $2,750,000 after purchasing an additional 7,632 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Adtalem Global Education by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,162 shares of the company’s stock valued at $1,443,000 after purchasing an additional 283 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

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 postsecondary education industry. This segment operates Chamberlain University.