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

Boothbay Fund Management LLC bought a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 36,911 shares of the company's stock, valued at approximately $2,369,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GeoWealth Management LLC increased its stake in New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Westpac Banking Corp bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $45,000. SBI Securities Co. Ltd. bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $51,000. Natixis raised its holdings in shares of 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 buying an additional 248 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in New Oriental Education & Technology Group in the 4th quarter worth approximately $138,000.

New Oriental Education & Technology Group Trading Up 1.8 %

Shares of EDU stock traded up $0.87 during mid-day trading on Friday, reaching $49.75. The stock had a trading volume of 781,863 shares, compared to its average volume of 1,824,302. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $89.33. The firm has a market capitalization of $8.44 billion, a PE ratio of 21.17 and a beta of 0.37. The stock's 50-day moving average price is $46.88 and its two-hundred day moving average price is $54.31.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.63 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on EDU. Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $83.00 to $52.00 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 on the stock in a report on Monday, April 21st. Finally, Macquarie cut New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and dropped their target price for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $60.80.

New Oriental Education & Technology Group Profile

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.