Ninety One North America Inc. Purchases 391,790 Shares of New Oriental Education & Technology Group, Inc. $EDU

Key Points

• Ninety One North America acquired 391,790 shares of New Oriental Education & Technology Group in the third quarter, worth approximately $21.7 million and representing about 0.25% of the company.
• Insiders sold 72,170 shares valued at roughly $4.1 million during the latest quarter, including substantial sales by directors Chenggang Zhou and Yue Zhuge.
• Analyst sentiment remains positive overall, with EDU carrying a “Moderate Buy” consensus rating and a $63.17 average price target; shares recently traded at $60.63.

Ninety One North America Inc. purchased a new position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 391,790 shares of the company's stock, valued at approximately $21,740,000. Ninety One North America Inc. owned about 0.25% of New Oriental Education & Technology Group at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WINTON GROUP Ltd acquired a new stake in New Oriental Education & Technology Group during the second quarter valued at $376,000. Carmignac Gestion increased its position in New Oriental Education & Technology Group by 0.8% in the 2nd quarter. Carmignac Gestion now owns 368,392 shares of the company's stock worth $16,921,000 after purchasing an additional 3,006 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in New Oriental Education & Technology Group by 10.9% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company's stock worth $729,000 after purchasing an additional 1,555 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $585,000. Finally, Amundi raised its stake in shares of New Oriental Education & Technology Group by 14.4% during the 1st quarter. Amundi now owns 507,774 shares of the company's stock worth $28,755,000 after purchasing an additional 63,845 shares in the last quarter.

Insider Activity

In related news, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the sale, the director directly owned 2,000 shares of the company's stock, valued at $119,100. This trade represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $56.83, for a total value of $3,236,354.84. Following the sale, the director directly owned 429,998 shares in the company, valued at approximately $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 72,170 shares of company stock valued at $4,100,348. 15.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EDU has been the subject of several recent research reports. Wall Street Zen downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of New Oriental Education & Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of "Moderate Buy" and a consensus price target of $63.17.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock traded up $3.06 during midday trading on Thursday, hitting $60.63. The company had a trading volume of 574,209 shares, compared to its average volume of 786,944. The business's 50 day simple moving average is $56.42 and its two-hundred day simple moving average is $52.85. The stock has a market cap of $9.40 billion, a PE ratio of 20.49, a P/E/G ratio of 0.62 and a beta of 0.19. New Oriental Education & Technology Group, Inc. has a 1-year low of $44.25 and a 1-year high of $64.97.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group is a China-based education services provider founded in 1993 by Michael Yu. The company offers educational programs and services for students, families and adult learners, with operations focused primarily on China.

Its business activities have included test preparation for international examinations, overseas study consulting, language training, online education and educational materials. New Oriental has also provided tutoring and other education services for students in primary and secondary school, as well as programs designed to support domestic academic development and professional skills.

The company serves customers through learning centers, schools and digital platforms across multiple regions of China.

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