Mirae Asset Global Investments Co. Ltd. boosted its position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 3,276.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 0.62% of New Oriental Education & Technology Group worth $50,507,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its stake in shares of New Oriental Education & Technology Group by 7.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 32,397 shares of the company's stock valued at $1,549,000 after buying an additional 2,239 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of New Oriental Education & Technology Group during the 1st quarter worth about $448,000. SG Americas Securities LLC increased its holdings in shares of New Oriental Education & Technology Group by 330.4% during the 1st quarter. SG Americas Securities LLC now owns 18,265 shares of the company's stock worth $873,000 after purchasing an additional 14,021 shares during the period. Wellington Management Group LLP lifted its stake in New Oriental Education & Technology Group by 57.9% during the fourth quarter. Wellington Management Group LLP now owns 627,686 shares of the company's stock worth $40,285,000 after purchasing an additional 230,140 shares during the period. Finally, Amiral Gestion acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $1,027,000.
New Oriental Education & Technology Group Stock Performance
Shares of EDU opened at $54.08 on Friday. The stock has a 50 day simple moving average of $48.08 and a 200 day simple moving average of $50.84. New Oriental Education & Technology Group, Inc. has a 52-week low of $40.66 and a 52-week high of $87.26. The firm has a market capitalization of $9.18 billion, a PE ratio of 22.82 and a beta of 0.25.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. New Oriental Education & Technology Group's revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Citigroup upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $77.00 to $50.00 in a research report on Friday. Wall Street Zen upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $48.00 to $62.00 in a research report on Tuesday. Finally, China Renaissance lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of "Hold" and an average price target of $52.00.
Check Out Our Latest Report on EDU
New Oriental Education & Technology Group Company Profile
(
Free Report)
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.
See Also
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