New Oriental Education & Technology Group, Inc. $EDU Shares Acquired by Amundi

Key Points

• Amundi increased its New Oriental Education & Technology Group stake by 14.4% in the first quarter, purchasing 63,845 additional shares to hold 507,774 shares valued at approximately $28.8 million.
• Several institutional investors also expanded or initiated positions, including Invesco, UBS Asset Management, Federated Hermes, Tiger Pacific Capital and Bright Valley Capital.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $64.54, compared with EDU’s opening price of $59.11; meanwhile, a company director sold 1,600 shares at an average price of $59.55.

Amundi lifted its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 14.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 507,774 shares of the company's stock after purchasing an additional 63,845 shares during the period. Amundi owned approximately 0.32% of New Oriental Education & Technology Group worth $28,755,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EDU. Invesco Ltd. grew its stake in shares of New Oriental Education & Technology Group by 5,697.3% in the fourth quarter. Invesco Ltd. now owns 4,610,905 shares of the company's stock worth $253,738,000 after acquiring an additional 4,531,370 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in New Oriental Education & Technology Group in the fourth quarter valued at $86,526,000. Federated Hermes Inc. grew its stake in New Oriental Education & Technology Group by 13,865.2% during the 4th quarter. Federated Hermes Inc. now owns 742,249 shares of the company's stock worth $40,846,000 after purchasing an additional 736,934 shares in the last quarter. Tiger Pacific Capital LP purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter worth about $38,056,000. Finally, BRIGHT VALLEY CAPITAL Ltd acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at about $28,944,000.

Wall Street Analysts Forecast Growth

EDU has been the subject of a number of analyst reports. Wall Street Zen downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reiterated a "hold (c)" rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday. Finally, The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $67.00 to $65.00 in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.54.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $59.11 on Tuesday. New Oriental Education & Technology Group, Inc. has a 1-year low of $44.25 and a 1-year high of $64.97. The stock has a market cap of $9.34 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.62 and a beta of 0.24. The firm has a fifty day moving average price of $48.12 and a 200 day moving average price of $53.10.

Insider Activity

In other news, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the sale, the director owned 2,000 shares in the company, valued at approximately $119,100. The trade was a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.50% of the company's stock.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group NYSE: EDU is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

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