Prescott Group Capital Management L.L.C. Decreases Holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Prescott Group Capital Management L.L.C. has reduced its stock holdings in New Oriental Education & Technology Group by 60.5%, leaving it with 10,000 shares valued at approximately $478,000.
• Analysts have upgraded New Oriental Education's stock ratings, with institutions like JPMorgan Chase raising the price target to $62.00 and changing their rating to "overweight."
• New Oriental Education reported EPS of $0.70 for the last quarter, which was below analysts' expectations of $0.76, marking a revenue decline of 2.0% year-over-year.

Prescott Group Capital Management L.L.C. decreased its position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 60.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company's stock after selling 15,303 shares during the quarter. Prescott Group Capital Management L.L.C.'s holdings in New Oriental Education & Technology Group were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on EDU. Wall Street Zen upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. Finally, Citigroup upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $77.00 to $50.00 in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $52.00.

New Oriental Education & Technology Group Stock Performance

NYSE EDU traded down $0.48 during trading hours on Tuesday, hitting $46.84. The company had a trading volume of 847,997 shares, compared to its average volume of 1,512,702. New Oriental Education & Technology Group, Inc. has a 52 week low of $40.66 and a 52 week high of $87.26. The firm has a 50 day simple moving average of $49.13 and a 200 day simple moving average of $48.90. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 19.76 and a beta of 0.28.

About New Oriental Education & Technology Group

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.