New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Alkeon Capital Management LLC

Alkeon Capital Management LLC lowered its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 16.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,303,597 shares of the company's stock after selling 260,000 shares during the quarter. Alkeon Capital Management LLC owned 0.77% of New Oriental Education & Technology Group worth $83,665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock valued at $62,703,000 after buying an additional 543,810 shares in the last quarter. Barclays PLC lifted its stake in shares of New Oriental Education & Technology Group by 8,438.4% in the fourth quarter. Barclays PLC now owns 95,716 shares of the company's stock worth $6,142,000 after buying an additional 94,595 shares in the last quarter. Green Court Capital Management Ltd acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at about $21,152,000. Panview Capital Ltd acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $27,358,000. Finally, Erste Asset Management GmbH acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $1,264,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup cut shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price target for the company from $83.00 to $50.00 in a research report on Friday, January 24th. China Renaissance cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and cut their target price for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Morgan Stanley cut New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group has an average rating of "Hold" and a consensus target price of $60.80.

New Oriental Education & Technology Group Stock Down 3.1 %

NYSE:EDU traded down $1.56 during trading hours on Tuesday, reaching $48.36. 824,912 shares of the company's stock were exchanged, compared to its average volume of 1,816,155. The company has a 50-day moving average of $46.97 and a 200 day moving average of $54.04. New Oriental Education & Technology Group Inc. has a 1-year low of $40.66 and a 1-year high of $89.33. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 20.58 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its 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). New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the business posted $0.63 EPS. New Oriental Education & Technology Group's revenue was down 2.0% compared to the same quarter last year. Research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current fiscal year.

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.