Advisors Preferred LLC Invests $315,000 in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Advisors Preferred LLC purchased a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,567 shares of the company's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aspex Management HK Ltd increased its stake in shares of New Oriental Education & Technology Group by 56.8% during the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock worth $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of New Oriental Education & Technology Group by 61.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock worth $249,952,000 after purchasing an additional 1,480,391 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of New Oriental Education & Technology Group by 175.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock worth $146,123,000 after purchasing an additional 1,449,979 shares during the last quarter. Norges Bank acquired a new position in shares of New Oriental Education & Technology Group during the 4th 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 4th quarter. FMR LLC now owns 4,539,678 shares of the company's stock worth $291,357,000 after purchasing an additional 1,437,656 shares during the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock traded down $2.11 during midday trading on Thursday, hitting $45.51. 1,470,358 shares of the company were exchanged, compared to its average volume of 1,198,422. The firm has a market capitalization of $7.72 billion, a P/E ratio of 19.20 and a beta of 0.28. The firm's 50 day moving average price is $49.26 and its two-hundred day moving average price is $49.44. New Oriental Education & Technology Group, Inc. has a 52 week low of $40.66 and a 52 week high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Analysts expect that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EDU. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Citigroup raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $77.00 to $50.00 in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of "Hold" and a consensus target price of $52.00.

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.