GF Fund Management CO. LTD. purchased a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,900 shares of the company's stock, valued at approximately $2,176,000.
A number of other institutional investors also recently bought and sold shares of EDU. Aspex Management HK Ltd raised its stake in New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock worth $478,456,000 after buying an additional 2,701,566 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in New Oriental Education & Technology Group by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock worth $249,952,000 after buying an additional 1,480,391 shares in the last quarter. JPMorgan Chase & Co. raised its stake in New Oriental Education & Technology Group by 175.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock worth $146,123,000 after buying an additional 1,449,979 shares in the last quarter. Norges Bank bought a new position in New Oriental Education & Technology Group in the fourth quarter worth about $92,345,000. Finally, FMR LLC increased its stake in shares of New Oriental Education & Technology Group by 46.3% during the fourth quarter. FMR LLC now owns 4,539,678 shares of the company's stock valued at $291,357,000 after purchasing an additional 1,437,656 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on EDU. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen raised shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $60.80.
View Our Latest Stock Report on EDU
New Oriental Education & Technology Group Stock Performance
Shares of NYSE:EDU traded up $1.78 during trading on Thursday, reaching $49.14. 1,200,337 shares of the stock traded hands, compared to its average volume of 1,770,126. The stock has a 50-day moving average of $46.52 and a two-hundred day moving average of $52.47. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $87.26. The stock has a market cap of $8.34 billion, a P/E ratio of 20.91 and a beta of 0.25.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts expect that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.
About New Oriental Education & Technology Group
(
Free Report)
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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