Ariel Investments LLC Cuts Holdings in Adtalem Global Education Inc. (NYSE:ATGE)

Ariel Investments LLC decreased its position in Adtalem Global Education Inc. (NYSE:ATGE) by 7.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,093,204 shares of the company’s stock after selling 159,155 shares during the period. Adtalem Global Education accounts for 2.0% of Ariel Investments LLC’s holdings, making the stock its 22nd biggest position. Ariel Investments LLC owned about 0.06% of Adtalem Global Education worth $190,168,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in shares of Adtalem Global Education by 1.0% in the fourth quarter. Arizona State Retirement System now owns 10,939 shares of the company’s stock valued at $994,000 after acquiring an additional 110 shares in the last quarter. Bailard Inc. purchased a new position in Adtalem Global Education in the fourth quarter worth $379,000. Smith Group Asset Management LLC bought a new position in Adtalem Global Education in the 4th quarter valued at $614,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Adtalem Global Education during the 4th quarter valued at $272,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Adtalem Global Education during the 4th quarter worth $2,368,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ATGE shares. StockNews.com downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. BMO Capital Markets raised their price target on shares of Adtalem Global Education from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group assumed coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Barrington Research reissued an “outperform” rating and set a $120.00 price objective on shares of Adtalem Global Education in a report on Tuesday, April 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $110.00.

Adtalem Global Education Stock Performance

NYSE ATGE opened at $114.62 on Friday. The company’s 50 day moving average is $101.41 and its 200-day moving average is $95.22. The firm has a market cap of $4.27 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. Adtalem Global Education Inc. has a 12-month low of $56.09 and a 12-month high of $114.71. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.45.

Adtalem Global Education (NYSE:ATGE) last posted its earnings results on Thursday, January 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.42. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. Sell-side analysts predict that Adtalem Global Education Inc. will post 6.2 earnings per share for the current year.

Insider Activity at Adtalem Global Education

In other news, insider Michael Betz sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $108.57, for a total value of $379,995.00. Following the completion of the transaction, the insider now directly owns 16,881 shares in the company, valued at approximately $1,832,770.17. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna J. Hrinak sold 4,812 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $103.26, for a total transaction of $496,887.12. Following the transaction, the director now directly owns 8,032 shares of the company’s stock, valued at approximately $829,384.32. This represents a 37.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,997 shares of company stock worth $1,386,048. 2.00% of the stock is owned by company insiders.

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.