OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,143 shares of the company's stock after selling 10,338 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in New Oriental Education & Technology Group were worth $772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 valued at $1,377,000 after acquiring an additional 247 shares in the last quarter. Natixis boosted its holdings in New Oriental Education & Technology Group by 39.2% in the fourth quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after acquiring an additional 248 shares in the last quarter. GeoWealth Management LLC boosted its holdings in New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Westpac Banking Corp bought a new stake in New Oriental Education & Technology Group in the fourth quarter valued at $45,000. Finally, Corient Private Wealth LLC boosted its holdings in shares of New Oriental Education & Technology Group by 27.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company's stock valued at $237,000 after buying an additional 792 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU traded down $0.06 during midday trading on Friday, hitting $50.10. 1,788,475 shares of the company's stock traded hands, compared to its average volume of 1,727,397. New Oriental Education & Technology Group, Inc. has a 1 year low of $40.66 and a 1 year high of $87.26. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 21.14 and a beta of 0.28. The firm has a fifty day moving average of $49.39 and a 200 day moving average of $49.76.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its earnings results 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). The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.91% and a net margin of 8.17%. The company's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. On average, equities analysts anticipate that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on EDU. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $48.00 to $62.00 in a report on Tuesday, June 24th. China Renaissance cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Citigroup upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $77.00 to $50.00 in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price 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.