Mirae Asset Global Investments Co. Ltd. Boosts Stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Mirae Asset Global Investments Co. Ltd. grew its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 3,276.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,056,414 shares of the company's stock after purchasing an additional 1,025,130 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.62% of New Oriental Education & Technology Group worth $50,507,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. GeoWealth Management LLC boosted its stake in shares of New Oriental Education & Technology Group by 258.5% during the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after buying an additional 318 shares during the period. Westpac Banking Corp acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $45,000. SBI Securities Co. Ltd. bought a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $51,000. Natixis boosted its holdings 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 worth $57,000 after buying an additional 248 shares during the period. Finally, BNP Paribas bought a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth about $113,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EDU shares. Citigroup upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $77.00 to $50.00 in a research note on Friday. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. China Renaissance cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $48.00 to $62.00 in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $52.00.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU traded down $0.33 during trading hours on Tuesday, reaching $53.62. 427,224 shares of the stock were exchanged, compared to its average volume of 1,735,386. The stock's fifty day simple moving average is $48.27 and its 200 day simple moving average is $50.62. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 22.62 and a beta of 0.25. New Oriental Education & Technology Group, Inc. has a 52 week low of $40.66 and a 52 week high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.06). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.91% and a net margin of 8.17%. New Oriental Education & Technology Group's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Research analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

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.