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

Voloridge Investment Management LLC reduced its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 78.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 220,140 shares of the company's stock after selling 818,790 shares during the quarter. Voloridge Investment Management LLC owned about 0.13% of New Oriental Education & Technology Group worth $14,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GeoWealth Management LLC raised its position 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 position in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $51,000. Natixis raised 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 valued at $57,000 after purchasing an additional 248 shares during the last quarter. Finally, BNP Paribas purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $113,000.

Wall Street Analysts Forecast Growth

EDU has been the subject of several research analyst reports. 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. JPMorgan Chase & Co. cut 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, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of "Hold" and a consensus price target of $60.80.

New Oriental Education & Technology Group Price Performance

NYSE:EDU traded up $1.83 during midday trading on Thursday, hitting $49.19. The company's stock had a trading volume of 240,225 shares, compared to its average volume of 1,766,371. New Oriental Education & Technology Group Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $87.26. The firm's 50 day moving average is $46.52 and its 200-day moving average is $52.47. The firm has a market cap of $8.35 billion, a P/E ratio of 20.89 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.06). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. New Oriental Education & Technology Group's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. As a group, analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current year.

About New Oriental Education & Technology Group

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.