Adtalem Global Education (NYSE:ATGE) Shares Gap Up Following Strong Earnings

Adtalem Global Education Inc. (NYSE:ATGE) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $102.42, but opened at $109.90. Adtalem Global Education shares last traded at $110.51, with a volume of 55,093 shares changing hands.

The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.42. Adtalem Global Education had a net margin of 10.55% and a return on equity of 15.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ATGE shares. Barrington Research upped their price objective on shares of Adtalem Global Education from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets upped their price target on shares of Adtalem Global Education from $84.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st.

Insider Buying and Selling

In other news, Director William W. Burke sold 4,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $90.39, for a total value of $361,560.00. Following the completion of the transaction, the director now owns 11,659 shares of the company’s stock, valued at approximately $1,053,857.01. This represents a 25.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. USA Financial Formulas bought a new position in shares of Adtalem Global Education in the fourth quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in shares of Adtalem Global Education in the third quarter worth about $27,000. Quarry LP bought a new position in Adtalem Global Education in the 2nd quarter valued at approximately $43,000. R Squared Ltd bought a new position in Adtalem Global Education in the 4th quarter valued at approximately $70,000. Finally, GAMMA Investing LLC raised its holdings in Adtalem Global Education by 60.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,287 shares of the company’s stock valued at $97,000 after buying an additional 483 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Adtalem Global Education Trading Up 4.3 %

The business’s fifty day moving average is $93.34 and its 200-day moving average is $82.44. The firm has a market cap of $4.01 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.94.

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.