Westport Asset Management Inc. Buys New Holdings in Adtalem Global Education Inc. (NYSE:ATGE)

Westport Asset Management Inc. purchased a new position in Adtalem Global Education Inc. (NYSE:ATGE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 125,759 shares of the company’s stock, valued at approximately $11,425,000. Adtalem Global Education accounts for approximately 5.5% of Westport Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in ATGE. Boston Partners purchased a new position in shares of Adtalem Global Education in the fourth quarter valued at $35,990,000. Neumeier Poma Investment Counsel LLC lifted its stake in shares of Adtalem Global Education by 59.2% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 405,530 shares of the company’s stock worth $36,842,000 after acquiring an additional 150,835 shares during the last quarter. Norges Bank purchased a new stake in Adtalem Global Education in the fourth quarter worth $11,157,000. Balyasny Asset Management L.P. boosted its stake in shares of Adtalem Global Education by 799.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 130,176 shares of the company’s stock valued at $11,826,000 after purchasing an additional 115,699 shares during the period. Finally, Pier Capital LLC bought a new position in shares of Adtalem Global Education in the fourth quarter worth about $9,114,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Adtalem Global Education Stock Up 3.2%

Shares of ATGE stock opened at $134.64 on Monday. The stock’s fifty day moving average price is $106.95 and its 200 day moving average price is $99.02. Adtalem Global Education Inc. has a 1-year low of $62.28 and a 1-year high of $140.12. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. 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 posted its quarterly earnings data on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.29. The firm had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. Adtalem Global Education had a net margin of 12.34% and a return on equity of 16.82%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 earnings per share. On average, research analysts expect that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $150.00 million in 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 an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of 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 upped their target price on Adtalem Global Education from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. StockNews.com downgraded Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, 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.

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.