Newtyn Management LLC Invests $53.13 Million in Adtalem Global Education Inc (ATGE)
Newtyn Management LLC purchased a new stake in shares of Adtalem Global Education Inc (NASDAQ:ATGE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,400,000 shares of the company’s stock, valued at approximately $53,130,000. Adtalem Global Education accounts for approximately 9.0% of Newtyn Management LLC’s holdings, making the stock its 6th biggest position. Newtyn Management LLC owned about 2.24% of Adtalem Global Education as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in ATGE. S&T Bank PA bought a new stake in shares of Adtalem Global Education during the second quarter valued at approximately $13,442,000. Shelton Capital Management purchased a new stake in Adtalem Global Education in the second quarter worth $224,000. Royal Bank of Canada purchased a new stake in Adtalem Global Education in the second quarter worth $1,026,000. Capital Research Global Investors purchased a new stake in Adtalem Global Education in the second quarter worth $11,385,000. Finally, AHL Partners LLP purchased a new stake in Adtalem Global Education in the second quarter worth $7,375,000.
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In other Adtalem Global Education news, insider Susan Groenwald sold 5,887 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $33.80, for a total value of $198,980.60. Following the completion of the sale, the insider now directly owns 30,582 shares in the company, valued at approximately $1,033,671.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric P. Dirst sold 3,114 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $34.06, for a total value of $106,062.84. Following the completion of the sale, the insider now owns 14,800 shares of the company’s stock, valued at $504,088. The disclosure for this sale can be found here. Insiders have sold a total of 11,328 shares of company stock worth $384,138 over the last 90 days.
ATGE has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Adtalem Global Education in a report on Monday, August 21st. Zacks Investment Research raised Adtalem Global Education from a “sell” rating to a “hold” rating in a research report on Friday, July 7th.
Adtalem Global Education Inc (ATGE) traded down 0.97% during mid-day trading on Wednesday, hitting $35.90. 153,075 shares of the stock were exchanged. The stock has a market cap of $2.23 billion and a price-to-earnings ratio of 18.80. The stock has a 50 day moving average of $37.74 and a 200-day moving average of $34.81. Adtalem Global Education Inc has a 52-week low of $21.97 and a 52-week high of $40.70.
Adtalem Global Education (NASDAQ:ATGE) last announced its quarterly earnings results on Thursday, August 17th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. Adtalem Global Education had a return on equity of 10.35% and a net margin of 9.76%. The firm had revenue of $451.50 million during the quarter, compared to analyst estimates of $452.77 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. Adtalem Global Education’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts predict that Adtalem Global Education Inc will post $2.88 EPS for the current fiscal year.
About Adtalem Global Education
Adtalem Global Education Inc, formerly DeVry Education Group Inc (DeVry Group) is a global provider of educational services. DeVry Group’s focuses on empowering its students to achieve their educational and career goals. DeVry Group’s institutions offer a range of programs in healthcare, technology, business, accounting, finance and law.
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