Position in Adtalem Global Education Inc. (NYSE:ATGE) Reduced by Mutual of America Capital Management LLC

2 min read | November 28, 2024 10:41 PM AEDT | By Team Kalkine Media

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Position in Adtalem Global Education Inc. (NYSE:ATGE) Reduced by Mutual of America Capital Management LLC — Image source: Shutterstock

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Highlights:

Mutual of America Capital Management LLC reduced its stake in Adtalem Global Education by 8.3% during Q3.

A number of large institutional investors have adjusted their holdings in Adtalem Global Education recently.

Adtalem Global Education reported strong quarterly results, exceeding earnings expectations and experiencing a 13.2% year-over-year revenue growth.

Mutual of America Capital Management LLC decreased its holdings in Adtalem Global Education Inc. (NYSE:ATGE) by 8.3% in the third quarter, according to recent filings with the SEC. Following the sale of 513 shares, the institutional firm now owns 5,669 shares of Adtalem, valued at approximately $428,000 at the end of the reporting period. The adjustment in holdings comes as part of ongoing shifts in the company’s investor base.

Other institutional investors have also made moves in the stock. Quarry LP acquired a new stake in Adtalem during Q2, while GAMMA Investing LLC increased its holdings by 116.7% in the same period. Additionally, DekaBank Deutsche Girozentrale and Gladius Capital Management LP made new investments in the company. These institutional shifts reflect a broader trend of institutional interest in Adtalem, with hedge funds and other large investors now owning 98.84% of the company’s stock.

In terms of insider activity, Director Lisa W. Wardell sold 7,292 shares in a transaction earlier this year, reducing her holdings by 6.49%. Despite these sales, insiders continue to hold a significant portion of the company's stock, representing 2.00% of total shares outstanding.

Adtalem Global Education recently posted its quarterly earnings for Q1, reporting a strong performance that exceeded Wall Street expectations. The company reported earnings of $1.29 per share, surpassing the consensus estimate of $1.12, and revenues for the quarter amounted to $417.4 million, up 13.2% compared to the previous year. This growth was driven by its educational services across various sectors, including healthcare and veterinary education.

Adtalem’s strong performance and continued growth in revenue position the company well, despite changes in its institutional ownership.

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