Allspring Global Investments Holdings LLC Decreases Stake in Adtalem Global Education Inc. (NYSE:ATGE)

Allspring Global Investments Holdings LLC lowered its stake in Adtalem Global Education Inc. (NYSE:ATGE) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,224 shares of the company’s stock after selling 4,562 shares during the period. Allspring Global Investments Holdings LLC owned 0.12% of Adtalem Global Education worth $2,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ATGE. Blue Trust Inc. raised its holdings in shares of Adtalem Global Education by 41.4% during the fourth quarter. Blue Trust Inc. now owns 1,042 shares of the company’s stock worth $61,000 after purchasing an additional 305 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Adtalem Global Education by 19.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,280 shares of the company’s stock worth $75,000 after purchasing an additional 210 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in shares of Adtalem Global Education by 50.3% during the fourth quarter. Center for Financial Planning Inc. now owns 1,910 shares of the company’s stock worth $113,000 after purchasing an additional 639 shares during the last quarter. Trust Investment Advisors purchased a new position in shares of Adtalem Global Education during the fourth quarter worth $205,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Adtalem Global Education during the fourth quarter worth $264,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Activity

In other news, CAO Manjunath Gangadharan sold 946 shares of Adtalem Global Education stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $65.75, for a total value of $62,199.50. Following the sale, the chief accounting officer now owns 6,040 shares in the company, valued at $397,130. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ATGE. Robert W. Baird raised their target price on shares of Adtalem Global Education from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Barrington Research raised their target price on shares of Adtalem Global Education from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd.

Adtalem Global Education Stock Up 0.2 %

ATGE opened at $67.43 on Wednesday. Adtalem Global Education Inc. has a fifty-two week low of $33.59 and a fifty-two week high of $68.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average of $62.87 and a two-hundred day moving average of $56.06. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 0.93 and a beta of 0.97.

Adtalem Global Education (NYSE:ATGE) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.34. Adtalem Global Education had a net margin of 7.12% and a return on equity of 14.06%. The company had revenue of $412.70 million during the quarter, compared to analysts’ expectations of $391.68 million. During the same quarter in the previous year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, research analysts expect that Adtalem Global Education Inc. will post 4.9 earnings per share for the current year.

Adtalem Global Education 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.