Renaissance Technologies LLC Sells 54,800 Shares of New Oriental Education & Technology Group, Inc. $EDU

Key Points

• Renaissance Technologies trimmed its stake in New Oriental Education & Technology Group by 1.8% in the first quarter, selling 54,800 shares and still holding 2.95 million shares worth about $166.9 million.
• The stock was slightly down in Friday trading, opening at $49.30, with a market cap of $7.79 billion and a 52-week range of $41.62 to $64.97.
• Analysts currently rate EDU as a Moderate Buy on average, with a consensus price target of $66.24, while the company recently reported quarterly EPS of $0.10 on revenue of $1.42 billion.

Renaissance Technologies LLC lowered its position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 1.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,947,864 shares of the company's stock after selling 54,800 shares during the period. Renaissance Technologies LLC owned 1.87% of New Oriental Education & Technology Group worth $166,938,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company's stock worth $28,000 after buying an additional 512 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $72,000. Raymond James Financial Inc. bought a new stake in New Oriental Education & Technology Group during the second quarter valued at $111,000. Leonteq Securities AG acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth about $155,000. Finally, PNC Financial Services Group Inc. grew its holdings in New Oriental Education & Technology Group by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company's stock worth $186,000 after acquiring an additional 324 shares during the period.

New Oriental Education & Technology Group Trading Down 0.1%

EDU opened at $49.30 on Friday. The company has a fifty day moving average price of $47.29 and a two-hundred day moving average price of $53.23. New Oriental Education & Technology Group, Inc. has a 1-year low of $41.62 and a 1-year high of $64.97. The company has a market cap of $7.79 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 0.69 and a beta of 0.19.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $1.42 billion for the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. On average, research analysts forecast that New Oriental Education & Technology Group, Inc. will post 3.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Zacks Research downgraded New Oriental Education & Technology Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $67.00 to $65.00 in a report on Thursday, June 11th. New Street Research set a $65.00 price target on New Oriental Education & Technology Group in a report on Thursday, June 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of New Oriental Education & Technology Group in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.24.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group NYSE: EDU is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

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