Farallon Capital Management LLC Sells 174,450 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Farallon Capital Management LLC decreased its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,359,150 shares of the company's stock after selling 174,450 shares during the period. Farallon Capital Management LLC owned approximately 1.39% of New Oriental Education & Technology Group worth $151,410,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC grew its position in shares of New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Westpac Banking Corp purchased a new position in New Oriental Education & Technology Group in the fourth quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new position in New Oriental Education & Technology Group in the fourth quarter worth about $51,000. Natixis grew its position in New Oriental Education & Technology Group by 39.2% in 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, BNP Paribas purchased a new position in New Oriental Education & Technology Group in the fourth quarter worth about $113,000.

New Oriental Education & Technology Group Stock Performance

NYSE EDU traded up $0.73 during trading on Friday, hitting $47.32. The stock had a trading volume of 653,213 shares, compared to its average volume of 1,810,640. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 20.14 and a beta of 0.25. New Oriental Education & Technology Group Inc. has a one year low of $40.66 and a one year high of $89.33. The stock has a 50 day simple moving average of $47.00 and a 200 day simple moving average of $53.60.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.06). The firm had revenue of $1.18 billion during 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 firm's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. On average, sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EDU shares. Macquarie lowered 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 lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. StockNews.com upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their price target on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, China Renaissance lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.80.

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.