XY Capital Ltd Sells 34,250 Shares of New Oriental Education & Technology Group, Inc. $EDU

Key Points

• XY Capital cut its New Oriental Education & Technology Group stake by 71.5% in the second quarter, selling 34,250 shares and retaining 13,620 shares valued at approximately $625,000.
• Analyst sentiment remains generally positive: EDU has a “Moderate Buy” consensus rating and an average price target of $64.54, although some analysts recently downgraded or lowered their targets.
• EDU opened at $59.30, with a market capitalization of $9.37 billion and a 52-week trading range of $44.25 to $64.97. Company insiders sold approximately 72,170 shares worth $4.1 million during the latest quarter.

XY Capital Ltd trimmed its position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 71.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,620 shares of the company's stock after selling 34,250 shares during the quarter. New Oriental Education & Technology Group accounts for approximately 0.6% of XY Capital Ltd's portfolio, making the stock its 22nd largest holding. XY Capital Ltd's holdings in New Oriental Education & Technology Group were worth $625,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company's stock valued at $28,000 after purchasing an additional 512 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in New Oriental Education & Technology Group by 106.9% during the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock worth $31,000 after purchasing an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in New Oriental Education & Technology Group in the 4th quarter worth about $72,000. Raymond James Financial Inc. bought a new stake in New Oriental Education & Technology Group in the 2nd quarter worth about $111,000. Finally, Leonteq Securities AG purchased a new stake in New Oriental Education & Technology Group in the 4th quarter valued at about $155,000.

Analysts Set New Price Targets

EDU has been the topic of several recent analyst reports. New Street Research set a $56.50 target price on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. The Goldman Sachs Group raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and reduced their target price for the company from $67.00 to $65.00 in a report on Thursday, June 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. Finally, Wall Street Zen lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.54.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU opened at $59.30 on Friday. The company has a market capitalization of $9.37 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.23. The company's 50-day moving average is $53.16 and its 200 day moving average is $52.76. New Oriental Education & Technology Group, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $64.97.

Insider Transactions at New Oriental Education & Technology Group

In other news, Director Chenggang Zhou sold 56,948 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the sale, the director owned 429,998 shares in the company, valued at $24,436,786.34. This trade represents a 11.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the completion of the sale, the director directly owned 2,000 shares in the company, valued at $119,100. This trade represents a 44.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 72,170 shares of company stock worth $4,100,348. Corporate insiders own 15.50% of the company's stock.

New Oriental Education & Technology Group Company 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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