Boothbay Fund Management LLC Makes New Investment in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Boothbay Fund Management LLC purchased a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 36,911 shares of the company's stock, valued at approximately $2,369,000.

A number of other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock valued at $62,703,000 after purchasing an additional 543,810 shares during the last quarter. Barclays PLC lifted its stake in New Oriental Education & Technology Group by 8,438.4% in the fourth quarter. Barclays PLC now owns 95,716 shares of the company's stock valued at $6,142,000 after buying an additional 94,595 shares during the last quarter. Green Court Capital Management Ltd acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at $21,152,000. Panview Capital Ltd bought a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth about $27,358,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $1,264,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their target price for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Citigroup cut New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price target for the company from $83.00 to $50.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of "Hold" and an average target price of $60.80.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU traded up $0.06 during trading hours on Thursday, hitting $48.91. 325,190 shares of the company's stock traded hands, compared to its average volume of 1,833,975. New Oriental Education & Technology Group Inc. has a twelve month low of $40.66 and a twelve month high of $89.33. The firm has a market cap of $8.30 billion, a P/E ratio of 20.81 and a beta of 0.37. The stock's fifty day moving average price is $46.83 and its two-hundred day moving average price is $54.73.

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

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.