Long Corridor Asset Management Ltd Purchases New Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Long Corridor Asset Management Ltd has acquired a position in New Oriental Education & Technology Group, purchasing 38,000 shares valued at approximately $1.82 million, making the stock its 16th largest holding.
• Several institutional investors, including Aspex Management and Price T Rowe Associates, significantly increased their stakes in the company during the 4th quarter, with Aspex increasing its position by 56.8% and Price T Rowe by 61.3%.
• Analyst ratings for New Oriental Education & Technology Group are mixed, with ratings ranging from a buy to a sell, and a consensus target price of $51.60, indicating ongoing uncertainty around the stock.

Long Corridor Asset Management Ltd purchased a new stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 38,000 shares of the company's stock, valued at approximately $1,817,000. New Oriental Education & Technology Group comprises approximately 1.4% of Long Corridor Asset Management Ltd's holdings, making the stock its 16th biggest position.

Several other institutional investors have also made changes to their positions in the company. Aspex Management HK Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 56.8% during the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock valued at $478,456,000 after buying an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of New Oriental Education & Technology Group by 61.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock valued at $249,952,000 after acquiring an additional 1,480,391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of New Oriental Education & Technology Group by 3,276.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company's stock valued at $50,507,000 after acquiring an additional 1,025,130 shares in the last quarter. Brilliance Asset Management Ltd. raised its stake in shares of New Oriental Education & Technology Group by 189.5% in the 1st quarter. Brilliance Asset Management Ltd. now owns 1,016,471 shares of the company's stock valued at $48,597,000 after acquiring an additional 665,403 shares in the last quarter. Finally, Green Court Capital Management Ltd raised its stake in shares of New Oriental Education & Technology Group by 196.9% in the 1st quarter. Green Court Capital Management Ltd now owns 978,446 shares of the company's stock valued at $46,780,000 after acquiring an additional 648,872 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

Shares of EDU traded up $0.43 on Friday, reaching $48.49. 1,337,049 shares of the stock traded hands, compared to its average volume of 1,807,785. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 21.55 and a beta of 0.25. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26. The stock's 50-day moving average price is $48.87 and its 200-day moving average price is $48.27.

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, beating analysts' consensus estimates of $0.24 by $0.37. The business had revenue of $1.24 billion for 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, equities research analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. 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. JPMorgan Chase & Co. raised New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $48.00 to $62.00 in a research report on Tuesday, June 24th. Citigroup raised 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 report on Friday, June 27th. Hsbc Global Res raised New Oriental Education & Technology Group to a "hold" rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $58.00 to $50.00 in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, New Oriental Education & Technology Group presently has an average 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.