Victory Capital Management Inc. Sells 6,153 Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• Victory Capital Management Inc. significantly reduced its stake in New Oriental Education & Technology Group by 79.1%, selling 6,153 shares and retaining only 1,628 shares.
• New Oriental Education & Technology Group's stock rating has been mixed, with some analysts upgrading it to a "buy" while others have issued hold ratings, leading to a consensus rating of "Hold" with an average target price of $52.00.
• The company reported strong earnings, with $0.61 earnings per share, exceeding analyst expectations and showing a year-over-year revenue growth of 9.4%.

Victory Capital Management Inc. trimmed its position in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 79.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,628 shares of the company's stock after selling 6,153 shares during the quarter. Victory Capital Management Inc.'s holdings in New Oriental Education & Technology Group were worth $78,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aspex Management HK Ltd lifted its position in shares of New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock worth $478,456,000 after purchasing an additional 2,701,566 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of New Oriental Education & Technology Group by 61.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock worth $249,952,000 after acquiring an additional 1,480,391 shares during the period. FMR LLC boosted its stake in shares of New Oriental Education & Technology Group by 46.3% during the 4th quarter. FMR LLC now owns 4,539,678 shares of the company's stock worth $291,357,000 after acquiring an additional 1,437,656 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of New Oriental Education & Technology Group by 3,276.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company's stock valued at $50,507,000 after acquiring an additional 1,025,130 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $22,139,000.

Wall Street Analyst Weigh In

EDU has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of New Oriental Education & Technology Group to a "hold" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. The Goldman Sachs Group cut shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $58.00 to $50.00 in a report on Wednesday. Wall Street Zen raised shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. Finally, Citigroup upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $77.00 to $50.00 in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of "Hold" and a consensus target price of $51.60.

New Oriental Education & Technology Group Price Performance

Shares of EDU traded down $0.31 during trading hours on Thursday, hitting $45.89. The stock had a trading volume of 427,735 shares, compared to its average volume of 1,554,138. The firm has a 50 day simple moving average of $48.92 and a 200-day simple moving average of $48.38. The firm has a market capitalization of $7.79 billion, a P/E ratio of 20.41 and a beta of 0.25. New Oriental Education & Technology Group, Inc. has a 1-year low of $40.66 and a 1-year high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.37. New Oriental Education & Technology Group had a return on equity of 11.32% and a net margin of 7.59%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $0.22 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS 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.