Barings LLC Trims Holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Barings LLC significantly reduced its holdings in New Oriental Education & Technology Group by 68.7%, owning 72,337 shares after selling 158,825 shares during the first quarter.
• New Oriental Education recently reported earnings of $0.61 EPS, exceeding forecasts of $0.24, with a revenue of $1.24 billion for the quarter.
• Analyst ratings are mixed, with two upgrades to "buy" and one downgrade to "hold," leading to a consensus rating of "Hold" and an average target price of $52.00.

Barings LLC decreased its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 68.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,337 shares of the company's stock after selling 158,825 shares during the quarter. Barings LLC's holdings in New Oriental Education & Technology Group were worth $3,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GeoWealth Management LLC grew its position in New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after buying an additional 318 shares during the last quarter. Westpac Banking Corp purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at $45,000. Banque Cantonale Vaudoise purchased a new position in New Oriental Education & Technology Group in the 1st quarter valued at $54,000. Natixis grew its position in New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after buying an additional 248 shares during the last quarter. Finally, BNP Paribas purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at $113,000.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU opened at $44.63 on Friday. The stock has a fifty day moving average price of $48.95 and a two-hundred day moving average price of $48.65. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 19.84 and a beta of 0.25. New Oriental Education & Technology Group, Inc. has a 1 year low of $40.66 and a 1 year high of $87.26.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on EDU shares. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. HSBC lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Wednesday. Citigroup raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $77.00 to $50.00 in a report on Friday, June 27th. Hsbc Global Res upgraded New Oriental Education & Technology Group to a "hold" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $48.00 to $62.00 in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of "Hold" and an average 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.

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