Westport Asset Management Inc. Takes Position in Adtalem Global Education Inc. (NYSE:ATGE)

Westport Asset Management Inc. purchased a new position in Adtalem Global Education Inc. (NYSE:ATGE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 125,759 shares of the company’s stock, valued at approximately $11,425,000. Adtalem Global Education comprises about 5.5% of Westport Asset Management Inc.’s investment portfolio, making the stock its 5th largest position. Westport Asset Management Inc. owned approximately 0.34% of Adtalem Global Education at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Adtalem Global Education during the fourth quarter valued at approximately $70,000. Parkside Financial Bank & Trust increased its position in shares of Adtalem Global Education by 4,850.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 792 shares of the company’s stock valued at $72,000 after buying an additional 776 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Adtalem Global Education by 196.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 956 shares of the company’s stock worth $86,000 after buying an additional 634 shares during the period. Sterling Capital Management LLC boosted its position in Adtalem Global Education by 774.8% during the 4th quarter. Sterling Capital Management LLC now owns 971 shares of the company’s stock valued at $88,000 after acquiring an additional 860 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Adtalem Global Education by 18.2% in the 4th quarter. Federated Hermes Inc. now owns 1,497 shares of the company’s stock worth $136,000 after acquiring an additional 231 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ATGE. BMO Capital Markets upped their price target on Adtalem Global Education from $115.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th. Jefferies Financial Group initiated coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They set a “buy” rating and a $135.00 target price for the company. StockNews.com lowered Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Barrington Research increased their target price on Adtalem Global Education from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th.

Adtalem Global Education Trading Up 3.2%

Adtalem Global Education stock opened at $134.64 on Monday. Adtalem Global Education Inc. has a one year low of $62.28 and a one year high of $140.12. The business’s fifty day moving average is $106.95 and its 200 day moving average is $99.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $5.02 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86.

Adtalem Global Education (NYSE:ATGE) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.29. The company had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. Adtalem Global Education had a net margin of 12.34% and a return on equity of 16.82%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 earnings per share. On average, sell-side analysts predict that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.