Adtalem Global Education (NYSE:ATGE) Hits New 52-Week High on Better-Than-Expected Earnings

Shares of Adtalem Global Education Inc. (NYSE:ATGE) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $81.45 and last traded at $81.34, with a volume of 57081 shares. The stock had previously closed at $74.99.

The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.17. Adtalem Global Education had a net margin of 8.63% and a return on equity of 14.84%. The firm had revenue of $417.40 million for the quarter, compared to analyst estimates of $397.48 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis.

Analysts Set New Price Targets

ATGE has been the topic of several research reports. StockNews.com downgraded Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Barrington Research boosted their target price on shares of Adtalem Global Education from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets raised their target price on Adtalem Global Education from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Insiders Place Their Bets

In related news, Director Lisa W. Wardell sold 24,637 shares of Adtalem Global Education stock in a transaction dated 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 sale, the director now owns 105,085 shares in the company, valued at $7,944,426. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Adtalem Global Education news, Director Lisa W. Wardell sold 24,637 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 105,085 shares in the company, valued at approximately $7,944,426. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lisa W. Wardell sold 28,301 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $75.74, for a total value of $2,143,517.74. Following the sale, the director now directly owns 105,085 shares in the company, valued at $7,959,137.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,440 shares of company stock worth $10,889,450 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Adtalem Global Education

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Adtalem Global Education by 133.8% in the 1st quarter. BNP Paribas Financial Markets now owns 47,394 shares of the company’s stock valued at $2,436,000 after buying an additional 27,124 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Adtalem Global Education during the first quarter worth about $565,000. Moloney Securities Asset Management LLC acquired a new stake in shares of Adtalem Global Education during the first quarter worth about $935,000. Daiwa Securities Group Inc. grew its holdings in shares of Adtalem Global Education by 252.8% in the first quarter. Daiwa Securities Group Inc. now owns 4,516 shares of the company’s stock valued at $232,000 after purchasing an additional 3,236 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Adtalem Global Education during the 1st quarter worth approximately $209,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Adtalem Global Education Price Performance

The company’s 50-day simple moving average is $74.05 and its 200 day simple moving average is $68.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $3.04 billion, a PE ratio of 30.42, a PEG ratio of 0.84 and a beta of 0.95.

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.