Adtalem Global Education (NYSE:ATGE) Hits New 52-Week High - Here's Why

Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $94.81 and last traded at $93.98, with a volume of 96182 shares changing hands. The stock had previously closed at $90.85.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ATGE shares. StockNews.com lowered Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on shares of Adtalem Global Education from $84.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Barrington Research upped their price target on shares of Adtalem Global Education from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th.

Adtalem Global Education Price Performance

The stock's 50-day moving average price is $87.54 and its 200 day moving average price is $77.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.01 and a beta of 0.96.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.17. The business had revenue of $417.40 million for the quarter, compared to analyst estimates of $397.48 million. Adtalem Global Education had a net margin of 10.55% and a return on equity of 15.63%. The business's revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. Equities research analysts expect that Adtalem Global Education Inc. will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Adtalem Global Education

In related news, Director William W. Burke sold 4,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was 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 approximately $1,053,857.01. This represents a 25.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adtalem Global Education

Several large investors have recently modified their holdings of ATGE. Pacer Advisors Inc. raised its holdings in Adtalem Global Education by 81,701.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,330,088 shares of the company's stock valued at $90,725,000 after buying an additional 1,328,462 shares during the period. LSV Asset Management lifted its stake in Adtalem Global Education by 2,360.6% during the second quarter. LSV Asset Management now owns 644,666 shares of the company's stock worth $43,973,000 after purchasing an additional 618,466 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Adtalem Global Education by 511.9% during the third quarter. Assenagon Asset Management S.A. now owns 78,828 shares of the company's stock worth $5,950,000 after buying an additional 65,945 shares during the period. Peregrine Asset Advisers Inc. acquired a new stake in shares of Adtalem Global Education in the second quarter valued at $4,348,000. Finally, Renaissance Technologies LLC grew its stake in shares of Adtalem Global Education by 34.3% in the second quarter. Renaissance Technologies LLC now owns 186,800 shares of the company's stock valued at $12,742,000 after buying an additional 47,700 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

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.