New Oriental Education & Technology Group (NYSE:EDU) Director Sells 13,052 Shares of Stock

Key Points

• Director Chenggang Zhou sold 13,052 EDU shares at an average price of $56.32, generating $735,088.64; he retained 486,946 shares after the transaction. He also sold an additional 56,948 shares the following business day for approximately $3.24 million.
• EDU opened at $58.13, with a market capitalization of $9.19 billion and a price-to-earnings ratio of 19.64. The stock has traded between $44.25 and $64.97 over the past year.
• Analysts maintain a “Moderate Buy” consensus rating, with one Strong Buy, five Buy, and two Hold ratings and an average price target of $64.54.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) Director Chenggang Zhou sold 13,052 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $56.32, for a total value of $735,088.64. Following the completion of the transaction, the director directly owned 486,946 shares of the company's stock, valued at $27,424,798.72. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Chenggang Zhou also recently made the following trade(s):

• On Monday, August 10th, Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock. The stock was sold at an average price of $56.83, for a total value of $3,236,354.84.

New Oriental Education & Technology Group Stock Performance

EDU opened at $58.13 on Tuesday. The business's fifty day moving average is $49.15 and its two-hundred day moving average is $53.15. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 0.60 and a beta of 0.24. New Oriental Education & Technology Group, Inc. has a one year low of $44.25 and a one year high of $64.97.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of New Oriental Education & Technology Group by 106.9% during the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock worth $31,000 after purchasing an additional 279 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in New Oriental Education & Technology Group by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company's stock valued at $186,000 after purchasing an additional 324 shares during the last quarter. Vident Advisory LLC increased its stake in New Oriental Education & Technology Group by 8.2% in the fourth quarter. Vident Advisory LLC now owns 5,939 shares of the company's stock valued at $327,000 after purchasing an additional 449 shares during the last quarter. Ieq Capital LLC increased its stake in New Oriental Education & Technology Group by 11.5% in the fourth quarter. Ieq Capital LLC now owns 4,760 shares of the company's stock valued at $262,000 after purchasing an additional 492 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company's stock worth $28,000 after buying an additional 512 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EDU shares. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and cut their target price for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of "Moderate Buy" and a consensus target price of $64.54.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group NYSE: EDU is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

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