Adtalem Global Education (NYSE:ATGE) Sets New 52-Week High – Here’s What Happened

Adtalem Global Education Inc. (NYSE:ATGE)’s share price reached a new 52-week high during trading on Thursday . The stock 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on ATGE. BMO Capital Markets boosted their target price on Adtalem Global Education from $84.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barrington Research increased their price objective on shares of Adtalem Global Education from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st.

Adtalem Global Education Stock Performance

The business’s fifty day moving average is $88.39 and its 200-day moving average is $78.22. 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 company has a market cap of $3.56 billion, a PE ratio of 21.73, a P/E/G ratio of 1.01 and a beta of 0.96.

Adtalem Global Education (NYSE:ATGE) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.17. The business had revenue of $417.40 million for the quarter, compared to analysts’ expectations of $397.48 million. Adtalem Global Education had a net margin of 10.55% and a return on equity of 15.63%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. As a group, research analysts predict that Adtalem Global Education Inc. will post 5.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William W. Burke sold 4,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $90.39, for a total transaction of $361,560.00. Following the completion of the sale, the director now owns 11,659 shares in the company, valued at approximately $1,053,857.01. This trade represents a 25.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Adtalem Global Education

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in shares of Adtalem Global Education by 81,701.2% in the second quarter. Pacer Advisors Inc. now owns 1,330,088 shares of the company’s stock worth $90,725,000 after buying an additional 1,328,462 shares in the last quarter. LSV Asset Management raised its holdings in shares of Adtalem Global Education by 2,360.6% during the 2nd quarter. LSV Asset Management now owns 644,666 shares of the company’s stock worth $43,973,000 after acquiring 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 3rd quarter. Assenagon Asset Management S.A. now owns 78,828 shares of the company’s stock valued at $5,950,000 after acquiring an additional 65,945 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new position in shares of Adtalem Global Education in the second quarter valued at $4,348,000. Finally, Renaissance Technologies LLC increased its position in Adtalem Global Education by 34.3% in the second quarter. Renaissance Technologies LLC now owns 186,800 shares of the company’s stock worth $12,742,000 after purchasing an additional 47,700 shares during the last quarter. Institutional investors 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.