Thornburg Investment Management Inc. Reduces Stock Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Thornburg Investment Management Inc. decreased its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 87.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,057 shares of the company's stock after selling 825,186 shares during the period. Thornburg Investment Management Inc. owned 0.07% of New Oriental Education & Technology Group worth $7,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its position in shares of New Oriental Education & Technology Group by 8,438.4% during the 4th quarter. Barclays PLC now owns 95,716 shares of the company's stock worth $6,142,000 after purchasing an additional 94,595 shares in the last quarter. Green Court Capital Management Ltd acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth approximately $21,152,000. Panview Capital Ltd acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth approximately $27,358,000. Erste Asset Management GmbH bought a new position in New Oriental Education & Technology Group in the fourth quarter worth approximately $1,264,000. Finally, LBP AM SA acquired a new stake in New Oriental Education & Technology Group in the fourth quarter valued at approximately $3,061,000.

New Oriental Education & Technology Group Trading Down 1.4%

Shares of EDU traded down $0.68 on Thursday, reaching $46.83. 923,590 shares of the company's stock traded hands, compared to its average volume of 1,772,759. The stock's 50 day simple moving average is $47.00 and its two-hundred day simple moving average is $52.96. The stock has a market cap of $7.95 billion, a PE ratio of 19.93 and a beta of 0.25. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $87.26.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and reduced their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. 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. Finally, JPMorgan Chase & Co. dropped their target price on 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $60.80.

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.