Hsbc Holdings PLC boosted its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 525,101 shares of the company's stock after acquiring an additional 126,255 shares during the period. Hsbc Holdings PLC owned 0.31% of New Oriental Education & Technology Group worth $33,404,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Natixis boosted its holdings in New Oriental Education & Technology Group by 39.2% in the fourth quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after acquiring an additional 248 shares in the last quarter. GeoWealth Management LLC grew its position in New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after purchasing an additional 318 shares during the period. Marshall Wace LLP increased its position in shares of New Oriental Education & Technology Group by 14.3% during the 4th quarter. Marshall Wace LLP now owns 174,717 shares of the company's stock valued at $11,213,000 after purchasing an additional 21,815 shares during the last quarter. Serenity Capital Management PTE. LTD. purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth $2,142,000. Finally, Barclays PLC increased its holdings in New Oriental Education & Technology Group by 8,438.4% in the 4th quarter. Barclays PLC now owns 95,716 shares of the company's stock worth $6,142,000 after acquiring an additional 94,595 shares in the last quarter.
Wall Street Analyst Weigh In
EDU has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, April 21st. China Renaissance cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price target for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. Finally, StockNews.com lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $60.80.
View Our Latest Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Trading Down 0.4 %
NYSE:EDU traded down $0.19 on Thursday, hitting $48.66. 102,518 shares of the stock were exchanged, compared to its average volume of 1,853,381. The stock has a market cap of $8.26 billion, a PE ratio of 20.70 and a beta of 0.37. New Oriental Education & Technology Group Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $89.33. The stock has a fifty day moving average of $46.83 and a 200-day moving average of $54.73.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings data 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). New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $0.63 earnings per share. New Oriental Education & Technology Group's revenue was down 2.0% on a year-over-year basis. As a group, analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.
New Oriental Education & Technology Group Profile
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Free Report)
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.
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