New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. decreased its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 87.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,057 shares of the company's stock after selling 825,186 shares during the period. Thornburg Investment Management Inc. owned approximately 0.07% of New Oriental Education & Technology Group worth $7,320,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ariose Capital Management Ltd acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $5,955,000. SG Americas Securities LLC acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $272,000. Blue Trust Inc. grew its holdings in shares of New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after purchasing an additional 775 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of New Oriental Education & Technology Group by 5.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,284 shares of the company's stock worth $2,003,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in New Oriental Education & Technology Group in the 4th quarter valued at about $138,000.

New Oriental Education & Technology Group Trading Down 1.0%

Shares of EDU traded down $0.48 during mid-day trading on Friday, reaching $46.48. The company had a trading volume of 244,643 shares, compared to its average volume of 1,770,201. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 19.78 and a beta of 0.25. The firm has a fifty day simple moving average of $46.92 and a 200-day simple moving average of $52.85. New Oriental Education & Technology Group Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The business 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 EPS. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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 research note on Monday, April 21st. Wall Street Zen raised shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. China Renaissance cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and reduced their price target for the company from $83.00 to $50.00 in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of "Hold" and a consensus target price of $60.80.

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.