Envestnet Asset Management Inc. Cuts Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Envestnet Asset Management Inc. lowered its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 54.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,130 shares of the company's stock after selling 6,171 shares during the period. Envestnet Asset Management Inc.'s holdings in New Oriental Education & Technology Group were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of EDU. Connor Clark & Lunn Investment Management Ltd. lifted its position in New Oriental Education & Technology Group by 1.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock valued at $1,377,000 after acquiring an additional 247 shares during the last quarter. Westpac Banking Corp purchased a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at $45,000. Blue Trust Inc. boosted its position in shares of New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after purchasing an additional 775 shares in the last quarter. Corient Private Wealth LLC grew its stake in New Oriental Education & Technology Group by 27.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company's stock worth $237,000 after buying an additional 792 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at about $51,000.

New Oriental Education & Technology Group Trading Down 3.1 %

Shares of NYSE:EDU opened at $48.36 on Wednesday. New Oriental Education & Technology Group Inc. has a 12-month low of $40.66 and a 12-month high of $89.33. The business has a 50 day moving average of $46.97 and a two-hundred day moving average of $54.04. The company has a market capitalization of $8.21 billion, a PE ratio of 20.58 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) 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 firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period last year, the company posted $0.63 earnings per share. The business's quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $83.00 to $50.00 in a report on Friday, January 24th. China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. StockNews.com upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday. Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Finally, Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and cut their price target for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group has an average rating of "Hold" and an average target price 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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