Phocas Financial Corp. Sells 8,324 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Phocas Financial Corp. decreased its position in Adtalem Global Education Inc. (NYSE:ATGE) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 132,211 shares of the company’s stock after selling 8,324 shares during the quarter. Phocas Financial Corp. owned 0.35% of Adtalem Global Education worth $9,979,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ATGE. Meeder Asset Management Inc. bought a new stake in Adtalem Global Education during the third quarter worth about $27,000. Quest Partners LLC grew its position in 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 acquiring an additional 9,008 shares during the last quarter. Natixis Advisors LLC acquired a new stake in Adtalem Global Education during the 3rd quarter valued at $828,000. GHE LLC bought a new position in Adtalem Global Education in the 3rd quarter valued at $283,000. Finally, Victory Capital Management Inc. boosted its stake in Adtalem Global Education by 130.1% in the third quarter. Victory Capital Management Inc. now owns 33,650 shares of the company’s stock worth $2,540,000 after purchasing an additional 19,026 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Adtalem Global Education Price Performance

Shares of ATGE stock opened at $87.34 on Tuesday. The firm’s 50 day moving average price is $77.12 and its two-hundred day moving average price is $72.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.94. Adtalem Global Education Inc. has a 52-week low of $43.78 and a 52-week high of $92.93. The stock has a market cap of $3.27 billion, a PE ratio of 19.99, a PEG ratio of 0.99 and a beta of 0.95.

Adtalem Global Education (NYSE:ATGE) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.29 EPS 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 during the quarter, compared to analysts’ expectations of $397.48 million. During the same quarter in the prior year, the company earned $0.93 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, analysts forecast that Adtalem Global Education Inc. will post 5.89 EPS for the current year.

Insider Activity

In other news, CAO Manjunath Gangadharan sold 944 shares of Adtalem Global Education stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $75.40, for a total value of $71,177.60. Following the sale, the chief accounting officer now directly owns 4,720 shares in the company, valued at $355,888. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa W. Wardell sold 7,292 shares of the business’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 completion of the sale, the director now directly owns 105,085 shares in the company, valued at approximately $7,576,628.50. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,110 shares of company stock worth $6,074,681 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.