Allianz SE Takes Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Allianz SE made a new investment of approximately $398,000 in New Oriental Education & Technology Group by purchasing 8,326 shares during the first quarter.
• Several institutional investors, including Janney Montgomery Scott LLC and Barclays PLC, significantly increased their stakes in New Oriental Education, indicating growing confidence in the company's prospects.
• New Oriental's latest quarterly earnings exceeded expectations, with reported $0.61 earnings per share and revenue of $1.24 billion, showcasing a year-over-year revenue growth of 9.4%.

Allianz SE acquired a new position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,326 shares of the company's stock, valued at approximately $398,000.

Several other hedge funds also recently made changes to their positions in EDU. Aspex Management HK Ltd boosted its holdings in shares of 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 during the period. FMR LLC boosted its stake in New Oriental Education & Technology Group by 46.3% in 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 period. Price T Rowe Associates Inc. MD grew its position in 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 in the last quarter. FIL Ltd raised its stake in New Oriental Education & Technology Group by 9.4% during the 4th quarter. FIL Ltd now owns 1,318,432 shares of the company's stock valued at $84,617,000 after purchasing an additional 113,715 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of New Oriental Education & Technology Group by 3,276.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company's stock valued at $50,507,000 after purchasing an additional 1,025,130 shares in the last quarter.

New Oriental Education & Technology Group Stock Down 0.1%

EDU stock traded down $0.03 during trading hours on Friday, hitting $45.85. The company's stock had a trading volume of 846,025 shares, compared to its average volume of 1,559,037. The stock has a 50 day moving average price of $48.85 and a two-hundred day moving average price of $48.27. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26. The company has a market capitalization of $7.84 billion, a PE ratio of 20.38 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.37. New Oriental Education & Technology Group had a net margin of 7.59% and a return on equity of 11.32%. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company posted $0.22 earnings per share. New Oriental Education & Technology Group's revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts expect that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EDU. HSBC downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Hsbc Global Res raised shares of New Oriental Education & Technology Group to a "hold" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. The Goldman Sachs Group 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 $58.00 to $50.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $48.00 to $62.00 in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of "Hold" and a consensus target price of $51.60.

New Oriental Education & Technology Group Company 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.