Mirae Asset Global Investments Co. Ltd. Decreases Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 34.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,670 shares of the company's stock after selling 9,804 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in New Oriental Education & Technology Group were worth $1,368,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FengHe Fund Management Pte. Ltd. acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $2,037,000. Ritholtz Wealth Management lifted its stake in New Oriental Education & Technology Group by 12.8% in the fourth quarter. Ritholtz Wealth Management now owns 15,221 shares of the company's stock valued at $1,115,000 after buying an additional 1,729 shares during the period. Matthews International Capital Management LLC acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $3,447,000. Ariose Capital Management Ltd bought a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $30,631,000. Finally, Dfpg Investments LLC lifted its holdings in shares of New Oriental Education & Technology Group by 7.3% during the 4th quarter. Dfpg Investments LLC now owns 11,674 shares of the company's stock valued at $852,000 after purchasing an additional 793 shares in the last quarter.

Analysts Set New Price Targets

EDU has been the topic of several recent analyst reports. StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, January 4th. Morgan Stanley lifted their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, March 28th.

New Oriental Education & Technology Group Trading Up 3.4 %

Shares of NYSE:EDU traded up $2.91 during trading on Monday, hitting $87.90. 1,256,831 shares of the company's stock traded hands, compared to its average volume of 1,637,871. New Oriental Education & Technology Group Inc. has a 52 week low of $35.70 and a 52 week high of $98.20. The company has a market cap of $14.92 billion, a price-to-earnings ratio of 46.70 and a beta of 0.49. The company has a 50-day moving average price of $89.79 and a 200-day moving average price of $78.42.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.23). New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The company had revenue of $869.60 million for the quarter, compared to analyst estimates of $814.01 million. During the same period last year, the firm earned $0.01 EPS. The firm's revenue for the quarter was up 36.3% compared to the same quarter last year. On average, analysts predict that New Oriental Education & Technology Group Inc. will post 2.02 earnings per share for the current fiscal year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.