Adtalem Global Education (NYSE:ATGE) Hits New 52-Week High – What’s Next?

Adtalem Global Education Inc. (NYSE:ATGE) shares hit a new 52-week high on Wednesday . The stock traded as high as $117.59 and last traded at $117.59, with a volume of 374 shares. The stock had previously closed at $90.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ATGE. Barrington Research increased their target price on shares of Adtalem Global Education from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets raised their price objective on shares of Adtalem Global Education from $84.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th.

Adtalem Global Education Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.04 and a beta of 0.96. The stock’s 50-day moving average is $80.74 and its 200 day moving average is $74.33.

Adtalem Global Education (NYSE:ATGE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.17. Adtalem Global Education had a net margin of 10.55% and a return on equity of 15.63%. The company had revenue of $417.40 million during the quarter, compared to the consensus estimate of $397.48 million. During the same period last year, the firm earned $0.93 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, analysts predict that Adtalem Global Education Inc. will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William W. Burke sold 4,000 shares of Adtalem Global Education stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $90.39, for a total transaction of $361,560.00. Following the completion of the sale, the director now directly owns 11,659 shares in the company, valued at approximately $1,053,857.01. This trade represents a 25.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lisa W. Wardell sold 7,292 shares of Adtalem Global Education stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $72.10, for a total transaction of $525,753.20. Following the sale, the director now owns 105,085 shares of the company’s stock, valued at approximately $7,576,628.50. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP increased its stake in shares of Adtalem Global Education by 4.3% during the 3rd quarter. Quantinno Capital Management LP now owns 3,059 shares of the company’s stock worth $231,000 after purchasing an additional 126 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Adtalem Global Education by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,165 shares of the company’s stock worth $994,000 after acquiring an additional 192 shares during the period. SummerHaven Investment Management LLC grew its stake in Adtalem Global Education by 1.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 19,687 shares of the company’s stock worth $1,343,000 after acquiring an additional 233 shares during the period. The Manufacturers Life Insurance Company grew its stake in Adtalem Global Education by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,162 shares of the company’s stock worth $1,443,000 after acquiring an additional 283 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Adtalem Global Education in the 3rd quarter worth approximately $27,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.