Short Interest in Adtalem Global Education Inc. (NYSE:ATGE) Drops By 5.1%

Adtalem Global Education Inc. (NYSE:ATGE) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 888,000 shares, a drop of 5.1% from the October 15th total of 935,800 shares. Based on an average daily volume of 373,400 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.4% of the shares of the company are short sold.

Insider Activity at Adtalem Global Education

In other news, CAO Manjunath Gangadharan sold 944 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $75.40, for a total transaction of $71,177.60. Following the completion of the transaction, the chief accounting officer now directly owns 4,720 shares of the company’s stock, valued at $355,888. This represents a 16.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lisa W. Wardell sold 24,637 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $75.60, for a total value of $1,862,557.20. Following the sale, the director now owns 105,085 shares of the company’s stock, valued at approximately $7,944,426. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,110 shares of company stock valued at $6,074,681 in the last three months. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Adtalem Global Education

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATGE. Janney Montgomery Scott LLC acquired a new position in shares of Adtalem Global Education in the 1st quarter valued at about $565,000. SG Americas Securities LLC bought a new stake in shares of Adtalem Global Education in the 1st quarter worth approximately $209,000. Russell Investments Group Ltd. boosted its stake in shares of Adtalem Global Education by 8.5% during the 1st quarter. Russell Investments Group Ltd. now owns 22,093 shares of the company’s stock worth $1,136,000 after acquiring an additional 1,724 shares in the last quarter. ProShare Advisors LLC increased its stake in Adtalem Global Education by 5.7% in the 1st quarter. ProShare Advisors LLC now owns 7,889 shares of the company’s stock worth $405,000 after purchasing an additional 423 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Adtalem Global Education by 30.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,913 shares of the company’s stock valued at $869,000 after acquiring an additional 3,970 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

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

Adtalem Global Education Trading Up 2.8 %

Shares of ATGE stock opened at $87.20 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $76.78 and a 200-day simple moving average of $72.08. Adtalem Global Education has a fifty-two week low of $43.78 and a fifty-two week high of $92.93. The stock has a market cap of $3.27 billion, a P/E ratio of 19.95, a P/E/G ratio of 0.99 and a beta of 0.95.

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