Adtalem Global Education Inc. (NYSE:ATGE - Get Free Report) shares hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $81.45 and last traded at $81.34, with a volume of 57081 shares traded. The stock had previously closed at $74.99.
The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.17. The firm had revenue of $417.40 million during the quarter, compared to the consensus estimate of $397.48 million. Adtalem Global Education had a return on equity of 14.84% and a net margin of 8.63%. The company's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $0.93 EPS.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on Adtalem Global Education from $84.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday. StockNews.com raised Adtalem Global Education from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Finally, Barrington Research increased their target price on Adtalem Global Education from $90.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday.
Check Out Our Latest Stock Report on Adtalem Global Education
Insider Buying and Selling at Adtalem Global Education
In related news, Director Lisa W. Wardell sold 7,292 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $72.10, for a total transaction of $525,753.20. Following the completion of the sale, the director now directly owns 105,085 shares of the company's stock, valued at approximately $7,576,628.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Adtalem Global Education news, CAO Manjunath Gangadharan sold 944 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $75.40, for a total transaction of $71,177.60. Following the sale, the chief accounting officer now owns 4,720 shares in the company, valued at approximately $355,888. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa W. Wardell sold 7,292 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $72.10, for a total transaction of $525,753.20. Following the transaction, the director now directly owns 105,085 shares of the company's stock, valued at approximately $7,576,628.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,440 shares of company stock worth $10,889,450 in the last quarter. 2.20% of the stock is owned by corporate insiders.
Institutional Trading of Adtalem Global Education
A number of institutional investors and hedge funds have recently made changes to their positions in ATGE. Covestor Ltd boosted its position in shares of Adtalem Global Education by 7,430.0% during the 1st quarter. Covestor Ltd now owns 753 shares of the company's stock valued at $38,000 after acquiring an additional 743 shares during the last quarter. Quarry LP purchased a new stake in Adtalem Global Education in the 2nd quarter valued at about $43,000. DekaBank Deutsche Girozentrale purchased a new stake in Adtalem Global Education during the first quarter worth about $53,000. GAMMA Investing LLC grew its position in shares of Adtalem Global Education by 116.7% during the second quarter. GAMMA Investing LLC now owns 804 shares of the company's stock worth $55,000 after buying an additional 433 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Adtalem Global Education during the first quarter worth about $56,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.
Adtalem Global Education Price Performance
The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 0.84 and a beta of 0.95. The stock has a fifty day moving average of $73.74 and a 200-day moving average of $68.57. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.
About Adtalem Global Education
(
Get Free Report)
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.
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