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

Adtalem Global Education Inc. (NYSE:ATGE) was the target of a significant drop in short interest in 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. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 373,400 shares, the short-interest ratio is currently 2.4 days.

Insider Activity at Adtalem Global Education

In related news, Director Lisa W. Wardell sold 7,292 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $72.10, for a total transaction of $525,753.20. Following the transaction, the director now owns 105,085 shares in the company, valued at $7,576,628.50. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Manjunath Gangadharan sold 944 shares of the company’s stock in a transaction dated 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 trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,110 shares of company stock worth $6,074,681. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Adtalem Global Education

A number of institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in Adtalem Global Education in the 3rd quarter worth approximately $27,000. Covestor Ltd raised its position in shares of 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 buying an additional 743 shares in the last quarter. Quarry LP bought a new stake in Adtalem Global Education during the second quarter valued at $43,000. DekaBank Deutsche Girozentrale bought a new stake in Adtalem Global Education during the first quarter valued at $53,000. Finally, GAMMA Investing LLC grew its position in Adtalem Global Education by 116.7% during the second quarter. GAMMA Investing LLC now owns 804 shares of the company’s stock worth $55,000 after buying an additional 433 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Adtalem Global Education Price Performance

Shares of NYSE:ATGE opened at $87.79 on Wednesday. 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 company has a market cap of $3.29 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 0.99 and a beta of 0.95. Adtalem Global Education has a one year low of $43.78 and a one year high of $92.93. The firm has a 50 day simple moving average of $77.49 and a 200 day simple moving average of $72.52.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ATGE. StockNews.com cut shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Barrington Research upped 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. Finally, BMO Capital Markets lifted their price target on Adtalem Global Education from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th.

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.