Insider Selling: New Oriental Education & Technology Group (NYSE:EDU) Director Sells $3,236,354.84 in Stock

Key Points

• Director Chenggang Zhou sold 56,948 EDU shares at an average price of $56.83, generating $3.24 million and reducing his holdings by 11.69% to 429,998 shares. He also sold 13,052 shares worth $735,089 several days earlier.
• New Oriental shares opened at $58.13 and have risen 3.0%, with a market capitalization of $9.19 billion and a 52-week range of $44.25 to $64.97.
• Analysts maintain a generally positive outlook, assigning the stock a consensus “Moderate Buy” rating and an average price target of $64.54.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group 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 sale, the director owned 429,998 shares of the company's stock, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Chenggang Zhou also recently made the following trade(s):

• On Friday, August 7th, Chenggang Zhou sold 13,052 shares of New Oriental Education & Technology Group stock. The shares were sold at an average price of $56.32, for a total value of $735,088.64.

New Oriental Education & Technology Group Stock Up 3.0%

Shares of EDU stock opened at $58.13 on Tuesday. The stock has a market cap of $9.19 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.60 and a beta of 0.24. The business has a 50-day simple moving average of $49.15 and a 200-day simple moving average of $53.15. New Oriental Education & Technology Group, Inc. has a 52-week low of $44.25 and a 52-week high of $64.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EDU shares. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. Wall Street Zen cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. Finally, New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. One investment 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.54.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its holdings in shares of New Oriental Education & Technology Group by 7,314.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company's stock worth $28,000 after purchasing an additional 512 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of New Oriental Education & Technology Group by 106.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $72,000. Raymond James Financial Inc. purchased a new position in New Oriental Education & Technology Group during the second quarter worth approximately $111,000. Finally, Leonteq Securities AG acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $155,000.

About New Oriental Education & Technology Group

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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