Green Court Capital Management Ltd Has $46.78 Million Stock Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Green Court Capital Management Ltd significantly increased its holdings in New Oriental Education & Technology Group by 196.9%, now owning 978,446 shares, which constitutes approximately 27.6% of its portfolio.
• New Oriental Education & Technology Group reported better-than-expected earnings for the quarter, with an EPS of $0.61, surpassing analyst estimates of $0.24.
• Equities analysts have mixed opinions on the stock, with one analyst rating it a sell, five assigning a hold, and three giving it a buy rating, resulting in an average price target of $51.60.

Green Court Capital Management Ltd grew its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 196.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 978,446 shares of the company's stock after purchasing an additional 648,872 shares during the period. New Oriental Education & Technology Group comprises approximately 27.6% of Green Court Capital Management Ltd's portfolio, making the stock its 3rd biggest position. Green Court Capital Management Ltd owned about 0.58% of New Oriental Education & Technology Group worth $46,780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in New Oriental Education & Technology Group in the fourth quarter valued at approximately $266,000. Sei Investments Co. bought a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth $224,000. FMR LLC increased its stake in New Oriental Education & Technology Group by 46.3% in the fourth quarter. FMR LLC now owns 4,539,678 shares of the company's stock valued at $291,357,000 after acquiring an additional 1,437,656 shares during the last quarter. Invesco Ltd. increased its stake in New Oriental Education & Technology Group by 95.6% in the fourth quarter. Invesco Ltd. now owns 156,284 shares of the company's stock valued at $10,030,000 after acquiring an additional 76,397 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of New Oriental Education & Technology Group by 9.4% during the fourth quarter. FIL Ltd now owns 1,318,432 shares of the company's stock valued at $84,617,000 after buying an additional 113,715 shares during the last quarter.

New Oriental Education & Technology Group Price Performance

NYSE EDU traded up $0.73 during mid-day trading on Tuesday, reaching $46.33. The stock had a trading volume of 207,373 shares, compared to its average volume of 1,547,115. New Oriental Education & Technology Group, Inc. has a 1 year low of $40.66 and a 1 year high of $87.26. The stock has a market cap of $7.73 billion, a PE ratio of 20.60 and a beta of 0.25. The company has a fifty day moving average price of $48.81 and a 200 day moving average price of $48.28.

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 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 company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business earned $0.22 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. HSBC cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Hsbc Global Res upgraded shares of New Oriental Education & Technology Group to a "hold" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. Finally, The Goldman Sachs Group lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $58.00 to $50.00 in a report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned 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 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.