Grand Alliance Asset Management Ltd lowered its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 96.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,150 shares of the company's stock after selling 141,000 shares during the quarter. New Oriental Education & Technology Group makes up approximately 0.4% of Grand Alliance Asset Management Ltd's portfolio, making the stock its 8th largest holding. Grand Alliance Asset Management Ltd's holdings in New Oriental Education & Technology Group were worth $331,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in EDU. GeoWealth Management LLC boosted its position 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 purchasing an additional 318 shares during the period. Westpac Banking Corp purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $51,000. Natixis lifted its holdings 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 worth $57,000 after buying an additional 248 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $138,000.
Analysts Set New Price Targets
EDU has been the topic of a number of recent analyst reports. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price target for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. StockNews.com lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. cut their target price 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 report on Monday, April 21st. Finally, China Renaissance lowered shares of 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, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $60.80.
Check Out Our Latest Research Report on EDU
New Oriental Education & Technology Group Stock Up 0.1 %
Shares of NYSE:EDU traded up $0.05 during midday trading on Wednesday, hitting $48.93. 436,570 shares of the stock traded hands, compared to its average volume of 1,846,264. 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 market capitalization of $8.30 billion, a PE ratio of 20.82 and a beta of 0.37. The business's 50 day moving average is $46.90 and its two-hundred day moving average is $54.77.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings results 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 company 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%. New Oriental Education & Technology Group's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.
About New Oriental Education & Technology Group
(
Free Report)
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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