AIA Group Ltd decreased its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 25.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,508 shares of the company's stock after selling 21,135 shares during the quarter. AIA Group Ltd's holdings in New Oriental Education & Technology Group were worth $3,413,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in EDU. Lazard Asset Management LLC acquired a new position in New Oriental Education & Technology Group in the first quarter valued at about $18,528,000. Ninety One UK Ltd acquired a new stake in New Oriental Education & Technology Group in the third quarter valued at $92,628,000. Ninety One North America Inc. acquired a new position in shares of New Oriental Education & Technology Group in the 3rd quarter worth approximately $21,740,000. Aubrey Capital Management Ltd acquired a new position in New Oriental Education & Technology Group in the first quarter valued at $9,888,000. Finally, Amundi boosted its position in shares of New Oriental Education & Technology Group by 14.4% during the 1st quarter. Amundi now owns 507,774 shares of the company's stock valued at $28,755,000 after purchasing an additional 63,845 shares in the last quarter.
New Oriental Education & Technology Group Price Performance
Shares of NYSE EDU opened at $52.11 on Thursday. New Oriental Education & Technology Group, Inc. has a 1 year low of $44.25 and a 1 year high of $64.97. The stock has a market capitalization of $8.08 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.53 and a beta of 0.24. The company's 50-day moving average is $56.49 and its 200 day moving average is $54.15.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on EDU shares. New Street Research set a $56.50 target price on New Oriental Education & Technology Group in a research report on Thursday, July 30th. Weiss Ratings lowered New Oriental Education & Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, October 28th. Finally, Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of "Moderate Buy" and an average price target of $60.75.
Check Out Our Latest Research Report on EDU
Insider Activity
In other news, Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the sale, the director directly owned 429,998 shares in the company, valued at $24,436,786.34. The trade was a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 15.50% of the stock is currently owned by insiders.
About New Oriental Education & Technology Group
(
Free Report)
New Oriental Education & Technology Group Inc NYSE: EDU is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.
Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.
Featured Articles
Want to see what other hedge funds are holding EDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider New Oriental Education & Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Oriental Education & Technology Group wasn't on the list.
While New Oriental Education & Technology Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
