Adtalem Global Education (NYSE:ATGE) Shares Gap Up Following Better-Than-Expected Earnings

Adtalem Global Education Inc. (NYSE:ATGE)’s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $102.42, but opened at $109.90. Adtalem Global Education shares last traded at $110.51, with a volume of 55,093 shares trading hands.

The company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.42. Adtalem Global Education had a return on equity of 15.63% and a net margin of 10.55%.

Wall Street Analysts Forecast Growth

ATGE has been the subject of a number of recent analyst reports. BMO Capital Markets raised their target price on Adtalem Global Education from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barrington Research increased their target price on shares of Adtalem Global Education from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com cut Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st.

Insider Activity

In other Adtalem Global Education news, Director William W. Burke sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $90.39, for a total value of $361,560.00. Following the completion of the transaction, the director now directly owns 11,659 shares in the company, valued at $1,053,857.01. This trade represents a 25.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP raised its holdings in Adtalem Global Education by 4.3% during the third quarter. Quantinno Capital Management LP now owns 3,059 shares of the company’s stock valued at $231,000 after buying an additional 126 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Adtalem Global Education by 13.8% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the company’s stock valued at $133,000 after acquiring an additional 177 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Adtalem Global Education by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,165 shares of the company’s stock worth $994,000 after purchasing an additional 192 shares during the last quarter. USA Financial Formulas bought a new stake in Adtalem Global Education during the fourth quarter worth approximately $26,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Adtalem Global Education by 1.4% during 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 last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Adtalem Global Education Stock Performance

The firm has a fifty day simple moving average of $93.34 and a 200 day simple moving average of $82.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.13 and a beta of 0.96.

About Adtalem Global Education

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.