Connor Clark & Lunn Investment Management Ltd. Cuts Position in Adtalem Global Education Inc. (NYSE:ATGE)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Adtalem Global Education Inc. (NYSE:ATGE) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,572 shares of the company’s stock after selling 4,966 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Adtalem Global Education worth $6,534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ATGE. Meeder Asset Management Inc. bought a new stake in Adtalem Global Education in the third quarter worth about $27,000. Quest Partners LLC increased its stake in shares of Adtalem Global Education by 173.4% during the 3rd quarter. Quest Partners LLC now owns 14,204 shares of the company’s stock worth $1,072,000 after purchasing an additional 9,008 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of Adtalem Global Education in the 3rd quarter worth approximately $828,000. GHE LLC purchased a new position in Adtalem Global Education in the third quarter valued at approximately $283,000. Finally, Victory Capital Management Inc. grew its holdings in Adtalem Global Education by 130.1% during the third quarter. Victory Capital Management Inc. now owns 33,650 shares of the company’s stock valued at $2,540,000 after purchasing an additional 19,026 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ATGE has been the topic of a number of recent research reports. BMO Capital Markets upped their price target on Adtalem Global Education from $84.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Barrington Research lifted their target price on shares of Adtalem Global Education from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In related news, Director Lisa W. Wardell sold 7,292 shares of the business’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 value of $525,753.20. Following the completion of the sale, the director now owns 105,085 shares in the company, valued at $7,576,628.50. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Manjunath Gangadharan sold 944 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $75.40, for a total transaction of $71,177.60. Following the transaction, the chief accounting officer now owns 4,720 shares in the company, valued at $355,888. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,110 shares of company stock worth $6,074,681. Corporate insiders own 2.00% of the company’s stock.

Adtalem Global Education Price Performance

Shares of NYSE ATGE opened at $89.99 on Friday. The stock’s 50-day simple moving average is $78.49 and its two-hundred day simple moving average is $72.92. Adtalem Global Education Inc. has a twelve month low of $43.78 and a twelve month high of $92.93. The firm has a market capitalization of $3.37 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.99 and a beta of 0.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47.

Adtalem Global Education (NYSE:ATGE) last announced its earnings results on Tuesday, October 29th. 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 10.55% and a return on equity of 15.63%. The business had revenue of $417.40 million for the quarter, compared to the consensus estimate of $397.48 million. During the same period last year, the firm posted $0.93 earnings per share. Adtalem Global Education’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, equities analysts anticipate that Adtalem Global Education Inc. will post 5.89 EPS for the current fiscal year.

Adtalem Global Education 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.