BRIGHT VALLEY CAPITAL Ltd Invests $50.58 Million in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• BRIGHT VALLEY CAPITAL Ltd invested approximately $50.58 million in New Oriental Education & Technology Group, acquiring 1,058,000 shares, which represents around 17.0% of their investment portfolio.
• New Oriental Education & Technology Group reported $0.61 earnings per share, significantly surpassing analyst expectations of $0.24, with a year-over-year revenue increase of 9.4%.
• The stock is currently rated as a "Hold" by analysts, with a consensus price target of $51.60, although ratings have varied from "buy" to "sell" by different firms.

BRIGHT VALLEY CAPITAL Ltd purchased a new position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,058,000 shares of the company's stock, valued at approximately $50,583,000. New Oriental Education & Technology Group comprises about 17.0% of BRIGHT VALLEY CAPITAL Ltd's investment portfolio, making the stock its 4th biggest holding. BRIGHT VALLEY CAPITAL Ltd owned 0.62% of New Oriental Education & Technology Group as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. GeoWealth Management LLC raised 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 worth $28,000 after buying an additional 318 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of New Oriental Education & Technology Group during the 1st quarter valued at about $54,000. Natixis grew its stake in shares of New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after purchasing an additional 248 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of New Oriental Education & Technology Group during the 1st quarter valued at about $72,000. Finally, BNP Paribas bought a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $113,000.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $46.77 on Thursday. 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 50 day simple moving average of $48.83 and a two-hundred day simple moving average of $48.26. The firm has a market cap of $7.86 billion, a P/E ratio of 20.79 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $1.19 billion. During the same period last year, the firm posted $0.22 EPS. The company's revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their price target for the company from $58.00 to $50.00 in a research note on Wednesday, August 6th. Hsbc Global Res upgraded New Oriental Education & Technology Group to a "hold" rating in a research note on Wednesday, July 30th. HSBC downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upgraded 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 research note on Tuesday, June 24th. Finally, Wall Street Zen upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $51.60.

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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