Ghe LLC Trims Stock Position in Adtalem Global Education Inc. (NYSE:ATGE)

Ghe LLC reduced its stake in shares of Adtalem Global Education Inc. (NYSE:ATGE) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,595 shares of the company’s stock after selling 160 shares during the quarter. Ghe LLC’s holdings in Adtalem Global Education were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ATGE. Arizona State Retirement System boosted its holdings in shares of Adtalem Global Education by 1.0% during the 4th quarter. Arizona State Retirement System now owns 10,939 shares of the company’s stock valued at $994,000 after buying an additional 110 shares in the last quarter. Bailard Inc. bought a new stake in shares of Adtalem Global Education during the 4th quarter valued at $379,000. Smith Group Asset Management LLC bought a new stake in shares of Adtalem Global Education during the 4th quarter valued at $614,000. Y Intercept Hong Kong Ltd bought 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 valued at $2,368,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Adtalem Global Education Stock Performance

Shares of Adtalem Global Education stock opened at $128.70 on Tuesday. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.05 and a beta of 0.86. The firm’s 50-day moving average is $111.06 and its 200 day moving average is $100.93. Adtalem Global Education Inc. has a 1 year low of $62.28 and a 1 year high of $140.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.06 and a quick ratio of 1.06.

Adtalem Global Education (NYSE:ATGE) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.29. The company had revenue of $466.06 million for the quarter, compared to analysts’ expectations of $447.19 million. Adtalem Global Education had a net margin of 12.34% and a return on equity of 16.82%. Adtalem Global Education’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 EPS. Sell-side analysts anticipate that Adtalem Global Education Inc. will post 6.2 EPS for the current fiscal year.

Adtalem Global Education declared that its board has initiated a stock buyback plan on Tuesday, May 6th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. BMO Capital Markets boosted their target price on shares of Adtalem Global Education from $115.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Jefferies Financial Group assumed coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They set a “buy” rating and a $135.00 target price on the stock. Finally, Barrington Research boosted their target price on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, May 9th.

About Adtalem Global Education

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.