OVERSEA CHINESE BANKING Corp Ltd Has $772,000 Stock Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in New Oriental Education & Technology Group, Inc. by 39%, holding 16,143 shares valued at $772,000 as of its latest SEC filing.
• Notable institutional moves include Barclays PLC increasing its holdings by 8,438.4% during the last quarter, now owning 95,716 shares worth approximately $6.1 million.
• In recent analyst ratings, Citigroup upgraded the stock from "neutral" to "buy," while adjusting the price target down to $50, indicating a mixed outlook among analysts with a consensus rating of "Hold."

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $266,000. Sei Investments Co. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $224,000. Wellington Management Group LLP increased its position in shares of New Oriental Education & Technology Group by 57.9% during the 4th quarter. Wellington Management Group LLP now owns 627,686 shares of the company's stock valued at $40,285,000 after purchasing an additional 230,140 shares during the period. Westpac Banking Corp acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth about $45,000. Finally, Polymer Capital Management HK LTD boosted its position in shares of New Oriental Education & Technology Group by 25.6% during the 4th quarter. Polymer Capital Management HK LTD now owns 83,000 shares of the company's stock valued at $5,327,000 after purchasing an additional 16,900 shares in the last quarter.

New Oriental Education & Technology Group Stock Down 0.6%

Shares of EDU stock traded down $0.26 on Thursday, reaching $45.95. The stock had a trading volume of 1,252,944 shares, compared to its average volume of 1,554,760. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 20.42 and a beta of 0.25. The firm's 50-day moving average is $48.92 and its two-hundred day moving average is $48.38.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EDU. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and upped their price target for the company from $48.00 to $62.00 in a research report on Tuesday, June 24th. Hsbc Global Res raised shares of New Oriental Education & Technology Group to a "hold" rating in a research note on Wednesday, July 30th. Citigroup upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their target price for the company from $77.00 to $50.00 in a research note on Friday, June 27th. The Goldman Sachs Group cut New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their price target for the company from $58.00 to $50.00 in a research note on Wednesday. Finally, HSBC downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $51.60.

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.