New Oriental Education & Technology Group (NYSE:EDU) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• New Oriental shares rose above their 200-day moving average of $54.15, reaching $55.13 and last trading at $55.06.
• Analysts have a Moderate Buy consensus and an average price target of $60.75; ratings include one Strong Buy, two Buys, and two Holds.
• The company announced a $1.00 special dividend, payable December 4 to shareholders of record November 18.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $54.15 and traded as high as $55.13. New Oriental Education & Technology Group shares last traded at $55.06, with a volume of 447,491 shares.

Analyst Ratings Changes

A number of research analysts recently commented on the company. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research report on Thursday, July 30th. Weiss Ratings lowered shares of New Oriental Education & Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, October 28th. Finally, Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.75.

New Oriental Education & Technology Group Stock Performance

The firm's 50 day simple moving average is $56.35 and its 200 day simple moving average is $54.15. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.52 and a beta of 0.24.

New Oriental Education & Technology Group Announces Dividend

The business also recently announced a special dividend, which will be paid on Friday, December 4th. Stockholders of record on Wednesday, November 18th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. New Oriental Education & Technology Group's dividend payout ratio is 36.25%.

Insider Activity

In related news, Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock in a transaction on Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the transaction, the director owned 429,998 shares in the company, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.50% of the company's stock.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of EDU. EverSource Wealth Advisors LLC boosted its holdings in shares of New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock worth $31,000 after acquiring an additional 279 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in New Oriental Education & Technology Group in the first quarter worth about $209,000. First Command Advisory Services Inc. boosted its stake in shares of New Oriental Education & Technology Group by 190.6% during the 3rd quarter. First Command Advisory Services Inc. now owns 3,749 shares of the company's stock worth $208,000 after acquiring an additional 2,459 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of New Oriental Education & Technology Group by 14.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company's stock valued at $219,000 after buying an additional 500 shares during the last quarter. Finally, Ethic Inc. purchased a new position in New Oriental Education & Technology Group in the 3rd quarter worth $231,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc NYSE: EDU is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.