Allianz SE Makes New $398,000 Investment 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 bought a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,326 shares of the company's stock, valued at approximately $398,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EDU. GeoWealth Management LLC lifted its position in shares of New Oriental Education & Technology Group by 258.5% during the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after buying an additional 318 shares during the last quarter. Westpac Banking Corp acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at $45,000. Natixis grew its holdings in shares of New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after purchasing an additional 248 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of New Oriental Education & Technology Group during the first quarter worth about $54,000. Finally, BNP Paribas purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $113,000.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock traded down $0.43 during trading hours on Wednesday, reaching $46.19. 874,533 shares of the company's stock were exchanged, compared to its average volume of 1,862,213. The company's 50 day moving average is $48.94 and its two-hundred day moving average is $48.39. New Oriental Education & Technology Group, Inc. has a 1 year low of $40.66 and a 1 year high of $87.26. The company has a market cap of $7.91 billion, a P/E ratio of 20.53 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.61 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $0.22 EPS. The business's revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EDU has been the topic of a number of research reports. Citigroup upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $77.00 to $50.00 in a research note on Friday, June 27th. The Goldman Sachs Group cut shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their target price for the company from $58.00 to $50.00 in a report on Wednesday. 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. HSBC downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Hsbc Global Res raised New Oriental Education & Technology Group to a "hold" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of "Hold" and an average price target 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.