Pekin Hardy Strauss Inc. Takes Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Pekin Hardy Strauss Inc. acquired a new position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,200 shares of the company's stock, valued at approximately $344,000.

A number of other hedge funds also recently modified their holdings of the company. Aspex Management HK Ltd raised its position in New Oriental Education & Technology Group by 56.8% in the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock valued at $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. FMR LLC raised its position in New Oriental Education & Technology Group by 46.3% in the 4th quarter. FMR LLC now owns 4,539,678 shares of the company's stock valued at $291,357,000 after purchasing an additional 1,437,656 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in New Oriental Education & Technology Group by 61.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock valued at $249,952,000 after purchasing an additional 1,480,391 shares during the last quarter. Schroder Investment Management Group raised its position in New Oriental Education & Technology Group by 17.2% in the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company's stock valued at $193,815,000 after purchasing an additional 442,656 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in New Oriental Education & Technology Group by 175.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock valued at $146,123,000 after purchasing an additional 1,449,979 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EDU. China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $48.00 to $62.00 in a research report on Tuesday, June 24th. Citigroup upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $77.00 to $50.00 in a research report on Friday, June 27th. Finally, Wall Street Zen upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $52.00.

New Oriental Education & Technology Group Stock Performance

NYSE EDU traded down $0.62 during trading hours on Friday, hitting $52.30. 752,586 shares of the company traded hands, compared to its average volume of 1,726,173. The business's 50-day moving average is $49.13 and its 200-day moving average is $50.12. New Oriental Education & Technology Group, Inc. has a twelve month low of $40.66 and a twelve month high of $87.26. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 22.07 and a beta of 0.28.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted $0.63 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current 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.