Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Adtalem Global Education Inc. (NYSE:ATGE)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Adtalem Global Education Inc. (NYSE:ATGE) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,572 shares of the company’s stock after selling 4,966 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Adtalem Global Education were worth $6,534,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ATGE. Meeder Asset Management Inc. bought a new position in Adtalem Global Education during the 3rd quarter valued at approximately $27,000. Quarry LP bought a new position in shares of Adtalem Global Education during the second quarter valued at approximately $43,000. Covestor Ltd lifted its stake in Adtalem Global Education by 7,430.0% in the first quarter. Covestor Ltd now owns 753 shares of the company’s stock worth $38,000 after acquiring an additional 743 shares during the period. GAMMA Investing LLC boosted its holdings in Adtalem Global Education by 116.7% in the second quarter. GAMMA Investing LLC now owns 804 shares of the company’s stock valued at $55,000 after acquiring an additional 433 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Adtalem Global Education during the 1st quarter valued at $53,000. 98.84% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Lisa W. Wardell sold 28,301 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $75.74, for a total transaction of $2,143,517.74. Following the completion of the transaction, the director now owns 105,085 shares of the company’s stock, valued at $7,959,137.90. This trade represents a 21.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Manjunath Gangadharan sold 944 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $75.40, for a total value of $71,177.60. Following the completion of the sale, the chief accounting officer now directly owns 4,720 shares in the company, valued at $355,888. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,110 shares of company stock worth $6,074,681. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Adtalem Global Education Stock Performance

Shares of Adtalem Global Education stock opened at $89.99 on Friday. Adtalem Global Education Inc. has a 12 month low of $43.78 and a 12 month high of $92.93. The firm has a market capitalization of $3.37 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.99 and a beta of 0.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $78.49 and a two-hundred day simple moving average of $72.92.

Adtalem Global Education (NYSE:ATGE) last issued 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 analysts’ expectations of $397.48 million. During the same period last year, the company posted $0.93 EPS. Adtalem Global Education’s revenue was up 13.2% on a year-over-year basis. On average, equities analysts forecast that Adtalem Global Education Inc. will post 5.89 earnings per share for the current fiscal year.

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.