BlueCrest Capital Management Ltd Takes $1.01 Million Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

BlueCrest Capital Management Ltd bought a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,800 shares of the company's stock, valued at approximately $1,014,000.

Several other hedge funds also recently made changes to their positions in EDU. GeoWealth Management LLC grew its position in shares of New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after buying an additional 318 shares during the last quarter. Westpac Banking Corp bought a new stake in New Oriental Education & Technology Group in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. purchased a new position in New Oriental Education & Technology Group during the 4th quarter valued at $51,000. Natixis increased its position in New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after purchasing an additional 248 shares during the period. Finally, Empowered Funds LLC bought a new position in New Oriental Education & Technology Group in the 4th quarter worth $138,000.

New Oriental Education & Technology Group Trading Down 0.1 %

Shares of NYSE:EDU opened at $48.84 on Thursday. The stock has a fifty day simple moving average of $46.83 and a two-hundred day simple moving average of $54.73. New Oriental Education & Technology Group Inc. has a 12-month low of $40.66 and a 12-month high of $89.33. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 20.78 and a beta of 0.37.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period last year, the firm posted $0.63 EPS. New Oriental Education & Technology Group's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. China Renaissance cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Macquarie lowered New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and dropped their price target for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of "Hold" and a consensus price target of $60.80.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.

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