KEYWISE CAPITAL MANAGEMENT HK Ltd Has $30.51 Million Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

KEYWISE CAPITAL MANAGEMENT HK Ltd reduced its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 475,440 shares of the company's stock after selling 481,450 shares during the period. New Oriental Education & Technology Group comprises about 2.5% of KEYWISE CAPITAL MANAGEMENT HK Ltd's holdings, making the stock its 9th largest holding. KEYWISE CAPITAL MANAGEMENT HK Ltd owned about 0.28% of New Oriental Education & Technology Group worth $30,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aspex Management HK Ltd boosted its holdings in shares of New Oriental Education & Technology Group by 56.8% during the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock worth $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in New Oriental Education & Technology Group by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock valued at $249,952,000 after acquiring an additional 1,480,391 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of New Oriental Education & Technology Group by 175.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock valued at $146,123,000 after buying an additional 1,449,979 shares during the last quarter. Norges Bank bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $92,345,000. Finally, FMR LLC raised its holdings in New Oriental Education & Technology Group by 46.3% during the fourth quarter. FMR LLC now owns 4,539,678 shares of the company's stock worth $291,357,000 after purchasing an additional 1,437,656 shares in the last quarter.

Analyst Ratings Changes

EDU has been the topic of several recent analyst reports. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Macquarie lowered shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and dropped their price target for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Citigroup cut shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. StockNews.com raised shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.80.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU traded down $0.22 during mid-day trading on Friday, reaching $48.62. 351,083 shares of the company's stock traded hands, compared to its average volume of 1,789,916. New Oriental Education & Technology Group Inc. has a 1-year low of $40.66 and a 1-year high of $87.26. The business has a 50-day simple moving average of $47.04 and a 200 day simple moving average of $53.36. The stock has a market cap of $8.25 billion, a P/E ratio of 20.69 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.24 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The business's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Company 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.