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

Adtalem Global Education Inc. (NYSE:ATGE) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,330,000 shares, a drop of 8.9% from the August 15th total of 1,460,000 shares. Based on an average trading volume of 499,100 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.6% of the company’s shares are short sold.

Analyst Ratings Changes

ATGE has been the subject of a number of analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Adtalem Global Education in a research note on Thursday, August 29th. BMO Capital Markets increased their price target on Adtalem Global Education from $76.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, StockNews.com upgraded Adtalem Global Education from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 8th.

Insider Buying and Selling at Adtalem Global Education

In other news, CAO Manjunath Gangadharan sold 944 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $75.40, for a total value of $71,177.60. Following the completion of the transaction, the chief accounting officer now directly owns 4,720 shares in the company, valued at $355,888. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Adtalem Global Education news, Director Lisa W. Wardell sold 7,292 shares of Adtalem Global Education stock in a transaction on Thursday, September 12th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Manjunath Gangadharan sold 944 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $75.40, for a total transaction of $71,177.60. Following the transaction, the chief accounting officer now owns 4,720 shares in the company, valued at approximately $355,888. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,440 shares of company stock valued at $10,889,450. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Adtalem Global Education

A number of hedge funds and other institutional investors have recently made changes to their positions in ATGE. QRG Capital Management Inc. grew its holdings in Adtalem Global Education by 14.8% during the 4th quarter. QRG Capital Management Inc. now owns 5,799 shares of the company’s stock worth $342,000 after acquiring an additional 747 shares during the last quarter. Norges Bank bought a new position in shares of Adtalem Global Education during the fourth quarter valued at about $9,656,000. Corient Private Wealth LLC boosted its stake in shares of Adtalem Global Education by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 100,798 shares of the company’s stock worth $5,942,000 after buying an additional 740 shares during the last quarter. Aigen Investment Management LP purchased a new position in Adtalem Global Education in the fourth quarter worth $266,000. Finally, Allianz Asset Management GmbH grew its position in Adtalem Global Education by 5.3% during the fourth quarter. Allianz Asset Management GmbH now owns 186,466 shares of the company’s stock valued at $10,992,000 after buying an additional 9,373 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Adtalem Global Education Price Performance

Shares of ATGE traded up $0.13 during mid-day trading on Tuesday, hitting $73.63. 320,521 shares of the company traded hands, compared to its average volume of 490,816. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 0.83 and a beta of 0.95. Adtalem Global Education has a one year low of $41.89 and a one year high of $80.18. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $74.08 and a 200 day moving average of $63.27.

Adtalem Global Education (NYSE:ATGE) last released its earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. Adtalem Global Education had a return on equity of 14.84% and a net margin of 8.63%. The firm had revenue of $409.91 million for the quarter, compared to analysts’ expectations of $398.64 million. During the same quarter in the previous year, the business posted $1.03 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that Adtalem Global Education will post 5.72 earnings per share for the current fiscal year.

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.