Ninety One UK Ltd Purchases 1,669,279 Shares of New Oriental Education & Technology Group, Inc. $EDU

Key Points

• Ninety One UK Ltd acquired 1.67 million shares of New Oriental Education & Technology Group in the third quarter, valued at approximately $92.6 million and representing about 1.08% of the company.
• EDU shares recently traded at $60.46, near their 52-week high of $64.97. The stock has a consensus analyst rating of “Moderate Buy” and an average price target of $63.17.
• Institutional buying increased, but insiders sold 72,170 shares worth roughly $4.1 million over the past three months; insiders retain a 15.5% ownership stake.

Ninety One UK Ltd purchased a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,669,279 shares of the company's stock, valued at approximately $92,628,000. Ninety One UK Ltd owned approximately 1.08% of New Oriental Education & Technology Group at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Ninety One North America Inc. acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter worth about $21,740,000. Lazard Asset Management LLC bought a new stake in New Oriental Education & Technology Group in the 1st quarter valued at about $18,528,000. Aubrey Capital Management Ltd bought a new stake in New Oriental Education & Technology Group in the 1st quarter valued at about $9,888,000. Amundi boosted its holdings in New Oriental Education & Technology Group by 14.4% in the 1st quarter. Amundi now owns 507,774 shares of the company's stock valued at $28,755,000 after purchasing an additional 63,845 shares during the period. Finally, AIA Group Ltd grew its position in shares of New Oriental Education & Technology Group by 185.2% during the 1st quarter. AIA Group Ltd now owns 93,342 shares of the company's stock worth $5,286,000 after purchasing an additional 60,611 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

EDU stock traded up $2.88 during midday trading on Thursday, reaching $60.46. The company had a trading volume of 583,722 shares, compared to its average volume of 786,944. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.19. The stock has a 50 day moving average price of $56.42 and a 200-day moving average price of $52.85. New Oriental Education & Technology Group, Inc. has a 1-year low of $44.25 and a 1-year high of $64.97.

Insider Activity

In other news, Director Chenggang Zhou sold 56,948 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the transaction, the director directly owned 429,998 shares in the company, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yue Zhuge sold 1,600 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $95,280.00. Following the completion of the transaction, the director owned 2,000 shares of the company's stock, valued at approximately $119,100. This trade represents a 44.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 72,170 shares of company stock worth $4,100,348. Insiders own 15.50% of the company's stock.

Analysts Set New Price Targets

EDU has been the topic of several recent research reports. New Street Research set a $56.50 target price on shares of New Oriental Education & Technology Group in a report on Thursday, July 30th. Weiss Ratings upgraded shares of New Oriental Education & Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.17.

About New Oriental Education & Technology Group

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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