Blue Creek Capital Management Ltd Lowers Stock Holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Blue Creek Capital Management Ltd significantly reduced its stake in New Oriental Education & Technology Group by 52.8%, now holding 80,512 shares, making it the firm's 6th largest position.
• Analysts are optimistic about the stock, with JPMorgan Chase upgrading its rating from "neutral" to "overweight" and raising the target price from $48.00 to $62.00.
• New Oriental Education reported $0.70 earnings per share, missing estimates of $0.76, and experienced a 2.0% decline in revenue year-over-year.

Blue Creek Capital Management Ltd lessened its holdings in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 52.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 80,512 shares of the company's stock after selling 90,000 shares during the period. New Oriental Education & Technology Group accounts for 5.0% of Blue Creek Capital Management Ltd's portfolio, making the stock its 6th largest position. Blue Creek Capital Management Ltd's holdings in New Oriental Education & Technology Group were worth $3,849,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Aspex Management HK Ltd boosted its stake in New Oriental Education & Technology Group by 56.8% in the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock worth $478,456,000 after purchasing an additional 2,701,566 shares during the period. FMR LLC boosted its stake in New Oriental Education & Technology Group by 46.3% in the 4th quarter. FMR LLC now owns 4,539,678 shares of the company's stock worth $291,357,000 after purchasing an additional 1,437,656 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $249,952,000 after purchasing an additional 1,480,391 shares during the period. Schroder Investment Management Group boosted its stake in New Oriental Education & Technology Group by 17.2% in the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company's stock worth $193,815,000 after purchasing an additional 442,656 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in New Oriental Education & Technology Group by 175.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock worth $146,123,000 after purchasing an additional 1,449,979 shares during the period.

New Oriental Education & Technology Group Stock Down 1.5%

Shares of EDU stock traded down $0.73 on Tuesday, reaching $46.58. The stock had a trading volume of 693,701 shares, compared to its average volume of 1,511,791. The firm's 50-day moving average is $49.13 and its two-hundred day moving average is $48.90. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 19.65 and a beta of 0.28. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EDU shares. 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 stock from $48.00 to $62.00 in a research note on Tuesday, June 24th. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Citigroup upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $77.00 to $50.00 in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group has a consensus rating of "Hold" and a consensus price target of $52.00.

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.