Mirae Asset Global Investments Co. Ltd. Sells 1,030,504 Shares of New Oriental Education & Technology Group, Inc. $EDU

Key Points

• Mirae Asset Global Investments significantly reduced its stake in New Oriental Education & Technology Group by selling 1,030,504 shares, resulting in a 97.5% decrease in ownership.
• In contrast, various institutional investors have increased their stakes in New Oriental, with First Beijing Investment Ltd boosting its holdings by 1,997.8%.
• Mirae Asset's remaining shares are valued at approximately $1.4 million, while the company's stock has a consensus rating of "Hold" with an average target price of $56.87.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 97.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,910 shares of the company's stock after selling 1,030,504 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in New Oriental Education & Technology Group were worth $1,398,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Siren L.L.C. lifted its stake in shares of New Oriental Education & Technology Group by 16.1% in the 1st quarter. Siren L.L.C. now owns 79,500 shares of the company's stock valued at $3,801,000 after purchasing an additional 11,000 shares during the last quarter. First Beijing Investment Ltd lifted its stake in shares of New Oriental Education & Technology Group by 1,997.8% in the 1st quarter. First Beijing Investment Ltd now owns 5,456,378 shares of the company's stock valued at $260,869,000 after purchasing an additional 5,196,281 shares during the last quarter. Serenity Capital Management PTE. LTD. lifted its stake in shares of New Oriental Education & Technology Group by 635.4% in the 1st quarter. Serenity Capital Management PTE. LTD. now owns 245,498 shares of the company's stock valued at $11,737,000 after purchasing an additional 212,116 shares during the last quarter. Yiheng Capital Management L.P. lifted its stake in shares of New Oriental Education & Technology Group by 15.4% in the 1st quarter. Yiheng Capital Management L.P. now owns 598,080 shares of the company's stock valued at $28,594,000 after purchasing an additional 79,766 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of New Oriental Education & Technology Group in the 1st quarter valued at approximately $682,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $48.00 to $62.00 in a research note on Tuesday, June 24th. The Goldman Sachs Group lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $58.00 to $50.00 in a research note on Wednesday, August 6th. Bank of America raised their price target on New Oriental Education & Technology Group from $56.20 to $58.20 and gave the stock a "buy" rating in a research note on Monday, September 29th. HSBC lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Citigroup decreased their price target on New Oriental Education & Technology Group from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, September 9th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $56.87.

New Oriental Education & Technology Group Trading Up 0.3%

EDU opened at $53.53 on Friday. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 1.72 and a beta of 0.27. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $76.33. The stock has a fifty day moving average price of $49.81 and a 200-day moving average price of $48.49.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.61 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 analyst estimates of $1.19 billion. New Oriental Education & Technology Group had a return on equity of 11.32% and a net margin of 7.59%.The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. New Oriental Education & Technology Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities research analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

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.

Want to see what other hedge funds are holding EDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.