New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Purchased by Aspex Management HK Ltd

Aspex Management HK Ltd grew its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 56.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,454,906 shares of the company's stock after purchasing an additional 2,701,566 shares during the period. New Oriental Education & Technology Group comprises approximately 12.9% of Aspex Management HK Ltd's investment portfolio, making the stock its 2nd biggest holding. Aspex Management HK Ltd owned approximately 4.39% of New Oriental Education & Technology Group worth $478,456,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in New Oriental Education & Technology Group by 1.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock worth $1,377,000 after buying an additional 247 shares in the last quarter. Natixis increased its position in shares of 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 during the last quarter. GeoWealth Management LLC raised its holdings in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Westpac Banking Corp acquired a new position in New Oriental Education & Technology Group during the fourth quarter valued at approximately $45,000. Finally, Blue Trust Inc. grew its stake in New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock valued at $181,000 after purchasing an additional 775 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $49.75 on Friday. New Oriental Education & Technology Group Inc. has a 52 week low of $40.66 and a 52 week high of $89.33. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 21.17 and a beta of 0.37. The company has a 50-day simple moving average of $46.88 and a 200 day simple moving average of $54.42.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EDU. Morgan Stanley cut New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their price objective for the company 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 dropped their target price for the company from $83.00 to $50.00 in a report on Friday, January 24th. Finally, China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.80.

About New Oriental Education & Technology Group

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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