Legal & General Group Plc Sells 13,188 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Legal & General Group Plc lowered its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,856 shares of the company's stock after selling 13,188 shares during the quarter. Legal & General Group Plc owned approximately 0.07% of New Oriental Education & Technology Group worth $7,425,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Westpac Banking Corp bought a new stake in New Oriental Education & Technology Group during the 4th quarter worth about $45,000. SBI Securities Co. Ltd. bought a new stake in New Oriental Education & Technology Group in the fourth quarter valued at about $51,000. Empowered Funds LLC acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $138,000. Blue Trust Inc. boosted its holdings in New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after buying an additional 775 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth about $224,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EDU. Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. China Renaissance lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, New Oriental Education & Technology Group has a consensus rating of "Hold" and an average target price of $60.80.

New Oriental Education & Technology Group Stock Performance

EDU traded up $2.57 on Thursday, reaching $46.66. The company had a trading volume of 1,787,544 shares, compared to its average volume of 1,912,348. The stock has a market cap of $7.92 billion, a P/E ratio of 19.86 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 company's fifty day moving average is $47.45 and its 200 day moving average is $55.72.

New Oriental Education & Technology Group Profile

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.