XTX Topco Ltd Acquires Shares of 30,121 New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• XTX Topco Ltd acquired a stake of 30,121 shares in New Oriental Education & Technology Group, valued at approximately $1.44 million, during the first quarter of the year.
• The company reported an earnings per share (EPS) of $0.61 for the last quarter, significantly exceeding analysts' expectations of $0.24, with a revenue growth of 9.4% year-over-year.
• Equities analysts recently revised ratings on the stock, with upgrades from multiple firms, including a buy rating from Wall Street Zen and a price target increase from JPMorgan Chase & Co. from $48.00 to $62.00.

XTX Topco Ltd bought a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,121 shares of the company's stock, valued at approximately $1,440,000.

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

New Oriental Education & Technology Group Stock Performance

Shares of EDU traded up $0.29 during trading hours on Tuesday, hitting $46.54. The company had a trading volume of 608,556 shares, compared to its average volume of 1,563,800. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 20.68 and a beta of 0.25. The firm has a fifty day moving average price of $48.95 and a 200-day moving average price of $48.40. 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.24 by $0.37. New Oriental Education & Technology Group had a net margin of 7.59% and a return on equity of 11.32%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The business's revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on EDU. HSBC lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $48.00 to $62.00 in a research note on Tuesday, June 24th. Citigroup upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their price target for the company from $77.00 to $50.00 in a research note on Friday, June 27th. Wall Street Zen upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Hsbc Global Res upgraded New Oriental Education & Technology Group to a "hold" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group has an average rating of "Hold" and an average price target of $52.00.

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.