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

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 39.0% during the first quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC acquired a new stake in shares of New Oriental Education & Technology Group in the first quarter valued at about $448,000. SG Americas Securities LLC boosted its holdings in New Oriental Education & Technology Group by 330.4% in the first quarter. SG Americas Securities LLC now owns 18,265 shares of the company's stock valued at $873,000 after acquiring an additional 14,021 shares during the last quarter. KBC Group NV acquired a new stake in New Oriental Education & Technology Group during the 1st quarter valued at approximately $192,000. Barclays PLC raised its holdings in New Oriental Education & Technology Group by 8,438.4% during the 4th quarter. Barclays PLC now owns 95,716 shares of the company's stock worth $6,142,000 after purchasing an additional 94,595 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in 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 worth $40,285,000 after purchasing an additional 230,140 shares during the last quarter.

Analyst Upgrades and Downgrades

EDU has been the topic of a number of analyst reports. Citigroup raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $77.00 to $50.00 in a research note on Friday, June 27th. HSBC cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Hsbc Global Res upgraded New Oriental Education & Technology Group to a "hold" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $48.00 to $62.00 in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $52.00.

New Oriental Education & Technology Group Trading Up 1.2%

EDU opened at $44.63 on Monday. The company has a fifty day moving average price of $48.95 and a two-hundred day moving average price of $48.51. New Oriental Education & Technology Group, Inc. has a 1-year low of $40.66 and a 1-year high of $87.26. The company has a market cap of $7.58 billion, a P/E ratio of 19.84 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.61 EPS for the quarter, beating 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $0.22 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

New Oriental Education & Technology Group Company 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.

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