Brilliance Asset Management Ltd. Buys 665,403 Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Brilliance Asset Management Ltd. increased its stake in New Oriental Education & Technology Group by 189.5%, now holding over 1 million shares that represent 16.1% of its portfolio.
• New Oriental Education reported a quarterly earnings per share of $0.61, significantly exceeding analysts' expectations of $0.24, along with a revenue increase of 9.4% year-over-year.
• Analysts have mixed views on the stock, with ratings ranging from 'buy' to 'sell', and a consensus target price adjusted to $51.60.

Brilliance Asset Management Ltd. grew its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 189.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016,471 shares of the company's stock after purchasing an additional 665,403 shares during the period. New Oriental Education & Technology Group makes up about 16.1% of Brilliance Asset Management Ltd.'s holdings, making the stock its 3rd largest holding. Brilliance Asset Management Ltd. owned approximately 0.60% of New Oriental Education & Technology Group worth $48,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in EDU. Aspex Management HK Ltd lifted its stake in New Oriental Education & Technology Group by 56.8% during the fourth 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 in the last quarter. FMR LLC lifted its stake in New Oriental Education & Technology Group by 46.3% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in New Oriental Education & Technology Group by 61.3% during the fourth 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 in the last quarter. FIL Ltd lifted its stake in New Oriental Education & Technology Group by 9.4% during the fourth quarter. FIL Ltd now owns 1,318,432 shares of the company's stock worth $84,617,000 after purchasing an additional 113,715 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in New Oriental Education & Technology Group by 3,276.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company's stock worth $50,507,000 after purchasing an additional 1,025,130 shares in the last quarter.

New Oriental Education & Technology Group Stock Up 1.5%

Shares of New Oriental Education & Technology Group stock traded up $0.67 during trading on Tuesday, hitting $46.27. 207,373 shares of the company were exchanged, compared to its average volume of 1,547,115. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 20.60 and a beta of 0.25. New Oriental Education & Technology Group, Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $87.26. The firm has a 50 day moving average price of $48.81 and a 200 day moving average price of $48.28.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.37. New Oriental Education & Technology Group had a net margin of 7.59% and a return on equity of 11.32%. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company earned $0.22 EPS. The firm's revenue was up 9.4% on a year-over-year basis. Analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on EDU shares. Hsbc Global Res upgraded New Oriental Education & Technology Group to a "hold" rating in a research note on Wednesday, July 30th. HSBC cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. upgraded 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 research note on Tuesday, June 24th. Finally, Citigroup raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their target price for the company from $77.00 to $50.00 in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of "Hold" and an average target price of $51.60.

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.