UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 25.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 738,741 shares of the company's stock after selling 255,690 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.44% of New Oriental Education & Technology Group worth $47,412,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of New Oriental Education & Technology Group by 1.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock worth $1,377,000 after acquiring an additional 247 shares in the last quarter. Natixis grew its stake in 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 purchasing an additional 248 shares in the last quarter. GeoWealth Management LLC increased its holdings in New Oriental Education & Technology Group by 258.5% during the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after purchasing an additional 318 shares during the period. Westpac Banking Corp purchased a new stake in New Oriental Education & Technology Group during the 4th quarter worth about $45,000. Finally, Blue Trust Inc. raised its position in New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock valued at $181,000 after purchasing an additional 775 shares in the last quarter.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on EDU. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 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, JPMorgan Chase & Co. cut their price target on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $60.80.
Get Our Latest Analysis on EDU
New Oriental Education & Technology Group Price Performance
Shares of New Oriental Education & Technology Group stock traded up $0.43 during trading hours on Wednesday, hitting $47.49. The company had a trading volume of 454,392 shares, compared to its average volume of 1,771,265. The company's 50-day moving average is $46.57 and its two-hundred day moving average is $52.50. New Oriental Education & Technology Group Inc. has a twelve month low of $40.66 and a twelve month high of $87.26. The company has a market cap of $8.06 billion, a P/E ratio of 20.21 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 return on equity of 9.48% and a net margin of 8.13%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The company's revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts expect that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current year.
New Oriental Education & Technology Group Profile
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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.
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