Public Employees Retirement System of Ohio Cuts Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Public Employees Retirement System of Ohio lowered its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 77.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,938 shares of the company's stock after selling 279,680 shares during the quarter. Public Employees Retirement System of Ohio's holdings in New Oriental Education & Technology Group were worth $5,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its stake in shares of New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Westpac Banking Corp purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $51,000. Natixis boosted its position in shares of New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after buying an additional 248 shares in the last quarter. Finally, BNP Paribas purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth about $113,000.

Analyst Ratings Changes

Several analysts have issued reports on the stock. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $48.50.

New Oriental Education & Technology Group Price Performance

NYSE:EDU traded down $1.66 on Monday, reaching $45.71. The stock had a trading volume of 1,074,593 shares, compared to its average volume of 1,766,394. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 19.45 and a beta of 0.25. The firm's fifty day moving average is $46.54 and its two-hundred day moving average is $52.21. New Oriental Education & Technology Group Inc. has a 12-month low of $40.66 and a 12-month high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings data 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). New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the previous year, the company posted $0.63 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. As a group, research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current fiscal year.

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.