# Adtalem Global Education Inc (ATGE)

Adtalem Global Education Inc. provides educational services worldwide. The company is headquartered in Chicago, Illinois.

## Stock Price Trends

Stock price trends estimated using linear regression.

#### Key facts

- The primary trend is increasing.
- The growth rate of the primary trend is 38.25% per annum.
- ATGE price at the close of September 16, 2024 was $73.50 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 153.23% per annum.
- ATGE price at the close of September 16, 2024 was inside the secondary price channel.

### Linear Regression Model

Model equation:

Y_{i} = α + β × X_{i} + ε_{i}

Top border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} + 2 × s)

Bottom border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} – 2 × s)

where:

i - observation number

Y_{i} - natural logarithm of ATGE price

X_{i} - time index, 1 day interval

σ - standard deviation of ε_{i}

a - estimator of α

b - estimator of β

s - estimator of σ

Exp() - calculates the exponent of e

### Primary Trend

Start date: November 29, 2021

End date: September 16, 2024

a = 2.5773

b = 0.0009

s = 0.1152

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0009) – 1

= 38.25%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.1152) – 1

= 58.51%

#### November 29, 2021 calculations

Top border of price channel:

Exp(Y_{555})

= Exp(a + b × X_{555} + 2 × s)

= Exp(a + b × 804 + 2 × s)

= Exp(2.5773 + 0.0009 × 804 + 2 × 0.1152)

= Exp(3.5211)

= $33.82

Bottom border of price channel:

Exp(Y_{555})

= Exp(a + b × X_{555} – 2 × s)

= Exp(a + b × 804 – 2 × s)

= Exp(2.5773 + 0.0009 × 804 – 2 × 0.1152)

= Exp(3.0605)

= $21.34

#### September 16, 2024 calculations

Top border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} + 2 × s)

= Exp(a + b × 1,826 + 2 × s)

= Exp(2.5773 + 0.0009 × 1,826 + 2 × 0.1152)

= Exp(4.4280)

= $83.77

Bottom border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} – 2 × s)

= Exp(a + b × 1,826 – 2 × s)

= Exp(2.5773 + 0.0009 × 1,826 – 2 × 0.1152)

= Exp(3.9674)

= $52.85

#### Description

- The primary trend is increasing.
- The growth rate of the primary trend is 38.25% per annum.
- ATGE price at the close of September 16, 2024 was $73.50 and was inside the primary price channel.

### Secondary Trend

Start date: February 1, 2024

End date: September 16, 2024

a = -0.2582

b = 0.0025

s = 0.0782

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0025) – 1

= 153.23%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0782) – 1

= 36.73%

#### February 1, 2024 calculations

Top border of price channel:

Exp(Y_{1,101})

= Exp(a + b × X_{1,101} + 2 × s)

= Exp(a + b × 1,598 + 2 × s)

= Exp(-0.2582 + 0.0025 × 1,598 + 2 × 0.0782)

= Exp(3.9661)

= $52.78

Bottom border of price channel:

Exp(Y_{1,101})

= Exp(a + b × X_{1,101} – 2 × s)

= Exp(a + b × 1,598 – 2 × s)

= Exp(-0.2582 + 0.0025 × 1,598 – 2 × 0.0782)

= Exp(3.6533)

= $38.60

#### September 16, 2024 calculations

Top border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} + 2 × s)

= Exp(a + b × 1,826 + 2 × s)

= Exp(-0.2582 + 0.0025 × 1,826 + 2 × 0.0782)

= Exp(4.5465)

= $94.30

Bottom border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} – 2 × s)

= Exp(a + b × 1,826 – 2 × s)

= Exp(-0.2582 + 0.0025 × 1,826 – 2 × 0.0782)

= Exp(4.2337)

= $68.97

#### Description

- The secondary trend is increasing.
- The growth rate of the secondary trend is 153.23% per annum.
- ATGE price at the close of September 16, 2024 was inside the secondary price channel.