XY Capital Ltd Sells 30,240 Shares of New Oriental Education & Technology Group, Inc. $EDU

Key Points

• XY Capital Ltd cut its stake in New Oriental Education & Technology Group by 38.7% in Q1, selling 30,240 shares and leaving it with 47,870 shares worth about $2.71 million.
• Other institutions also adjusted their positions, with several firms buying new stakes or increasing holdings in EDU during the second quarter.
• Analyst sentiment is mixed but generally constructive: the stock has a Moderate Buy consensus rating with an average price target of $66.24, while shares recently traded at $48.73.

XY Capital Ltd reduced its holdings in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 38.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,870 shares of the company's stock after selling 30,240 shares during the quarter. New Oriental Education & Technology Group accounts for about 2.7% of XY Capital Ltd's holdings, making the stock its 14th biggest position. XY Capital Ltd's holdings in New Oriental Education & Technology Group were worth $2,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC bought a new position in New Oriental Education & Technology Group in the 2nd quarter valued at about $221,000. Sei Investments Co. lifted its stake in New Oriental Education & Technology Group by 46.6% during the 2nd quarter. Sei Investments Co. now owns 5,122 shares of the company's stock valued at $276,000 after acquiring an additional 1,629 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in New Oriental Education & Technology Group during the 2nd quarter worth $378,000. Quantinno Capital Management LP boosted its holdings in New Oriental Education & Technology Group by 168.2% during the 2nd quarter. Quantinno Capital Management LP now owns 13,215 shares of the company's stock worth $713,000 after acquiring an additional 8,287 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth $111,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EDU shares. Zacks Research lowered shares of New Oriental Education & Technology Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Weiss Ratings downgraded shares of New Oriental Education & Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. New Street Research set a $65.00 price objective on shares of New Oriental Education & Technology Group in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group has a consensus rating of "Moderate Buy" and an average target price of $66.24.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock opened at $48.73 on Wednesday. The firm has a market cap of $7.70 billion, a PE ratio of 18.67, a P/E/G ratio of 0.69 and a beta of 0.19. New Oriental Education & Technology Group, Inc. has a 1 year low of $41.62 and a 1 year high of $64.97. The stock has a fifty day moving average price of $47.44 and a 200-day moving average price of $53.36.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $1.42 billion for the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. As a group, equities analysts anticipate that New Oriental Education & Technology Group, Inc. will post 3.14 EPS for the current fiscal year.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group NYSE: EDU is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

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