Adtalem Global Education Inc. (NYSE:ATGE) Sees Large Drop in Short Interest

Adtalem Global Education Inc. (NYSE:ATGE) was the recipient of a significant drop in short interest in May. As of May 31st, there was short interest totalling 1,040,000 shares, a drop of 34.2% from the May 15th total of 1,580,000 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average daily volume of 539,900 shares, the days-to-cover ratio is presently 1.9 days.

Adtalem Global Education Price Performance

Adtalem Global Education stock opened at $123.36 on Tuesday. The business’s 50 day simple moving average is $118.75 and its 200 day simple moving average is $104.83. Adtalem Global Education has a 12 month low of $62.70 and a 12 month high of $140.12. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.05 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45.

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

Adtalem Global Education announced that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Adtalem Global Education

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of the transaction, the director now directly owns 9,368 shares of the company’s stock, valued at $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Adtalem Global Education

A number of institutional investors have recently modified their holdings of ATGE. Lord Abbett & CO. LLC purchased a new stake in shares of Adtalem Global Education during the first quarter worth $40,829,000. Boston Partners bought a new stake in shares of Adtalem Global Education during the 4th quarter valued at $35,990,000. Goldman Sachs Group Inc. lifted its holdings in Adtalem Global Education by 124.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 699,027 shares of the company’s stock worth $70,350,000 after purchasing an additional 387,330 shares in the last quarter. GAMMA Investing LLC boosted its stake in Adtalem Global Education by 11,723.8% in the 1st quarter. GAMMA Investing LLC now owns 173,101 shares of the company’s stock worth $17,421,000 after purchasing an additional 171,637 shares during the period. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in Adtalem Global Education by 59.2% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 405,530 shares of the company’s stock worth $36,842,000 after purchasing an additional 150,835 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ATGE has been the topic of several recent research reports. Jefferies Financial Group began coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They set a “buy” rating and a $135.00 price objective on the stock. BMO Capital Markets raised their price objective on Adtalem Global Education from $115.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Barrington Research lifted their price target on shares of Adtalem Global Education from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th.

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.