Adtalem Global Education (NYSE:ATGE) Stock Price Down 5.5% After Insider Selling

Shares of Adtalem Global Education Inc. (NYSE:ATGE) fell 5.5% during mid-day trading on Monday following insider selling activity. The stock traded as low as $122.93 and last traded at $121.12. 36,148 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 456,792 shares. The stock had previously closed at $128.23.

Specifically, Director William W. Burke sold 2,291 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the completion of the sale, the director now directly owns 9,368 shares in the company, valued at approximately $1,202,382.80. This represents a 19.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

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

Adtalem Global Education Stock Performance

The stock has a market cap of $4.55 billion, a P/E ratio of 22.66, a PEG ratio of 1.05 and a beta of 0.92. The stock has a fifty day simple moving average of $116.29 and a 200-day simple moving average of $103.58. 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 quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share 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 during the quarter, compared to the consensus estimate of $447.19 million. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. Equities 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 has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Adtalem Global Education

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of Adtalem Global Education by 56.8% in the first quarter. Fifth Third Bancorp now owns 287 shares of the company’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Adtalem Global Education by 1.0% during 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Adtalem Global Education by 1.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,880 shares of the company’s stock worth $1,196,000 after buying an additional 129 shares during the period. US Bancorp DE boosted its holdings in Adtalem Global Education by 3.9% in the first quarter. US Bancorp DE now owns 3,414 shares of the company’s stock valued at $344,000 after acquiring an additional 129 shares in the last quarter. Finally, Xponance Inc. raised its stake in Adtalem Global Education by 5.2% in the first quarter. Xponance Inc. now owns 3,040 shares of the company’s stock worth $306,000 after buying an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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.