Aspex Management HK Ltd Boosts Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Aspex Management HK Ltd lifted its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 56.8% during the 4th quarter, according to its most recent disclosure with the SEC. 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 accounts for about 12.9% of Aspex Management HK Ltd's portfolio, making the stock its 2nd largest position. Aspex Management HK Ltd owned 4.39% of New Oriental Education & Technology Group worth $478,456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GeoWealth Management LLC increased its position in shares of New Oriental Education & Technology Group by 258.5% during 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 last quarter. Westpac Banking Corp bought a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at $45,000. SBI Securities Co. Ltd. bought a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $51,000. Natixis boosted its stake in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after acquiring an additional 248 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in New Oriental Education & Technology Group during the 4th quarter valued at $138,000.

Wall Street Analysts Forecast Growth

EDU has been the topic of several research reports. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $83.00 to $50.00 in a research note on Friday, January 24th. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their target price for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their target price on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock 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. Finally, StockNews.com upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $60.80.

New Oriental Education & Technology Group Stock Performance

EDU traded down $0.85 on Thursday, reaching $46.86. 485,985 shares of the company's stock were exchanged, compared to its average volume of 1,807,076. New Oriental Education & Technology Group Inc. has a twelve month low of $40.66 and a twelve month high of $89.33. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 19.94 and a beta of 0.25. The company's 50 day moving average is $46.96 and its 200-day moving average is $53.99.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.70 EPS 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 firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business's quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current 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.