Wellington Management Group LLP Acquires 230,140 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Wellington Management Group LLP grew its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 57.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 627,686 shares of the company's stock after buying an additional 230,140 shares during the period. Wellington Management Group LLP owned approximately 0.37% of New Oriental Education & Technology Group worth $40,285,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after buying an additional 206 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of New Oriental Education & Technology Group by 1.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock valued at $1,377,000 after acquiring an additional 247 shares in the last quarter. Blue Trust Inc. raised its position in shares of New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after purchasing an additional 775 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of New Oriental Education & Technology Group by 27.4% in the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company's stock worth $237,000 after purchasing an additional 792 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at $51,000.

New Oriental Education & Technology Group Stock Up 0.9 %

EDU stock traded up $0.40 during trading on Friday, reaching $42.97. The stock had a trading volume of 2,567,233 shares, compared to its average volume of 1,893,702. New Oriental Education & Technology Group Inc. has a one year low of $40.66 and a one year high of $91.04. The company's 50 day moving average is $48.51 and its two-hundred day moving average is $57.35. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 18.28 and a beta of 0.37.

Analysts Set New Price Targets

A number of research firms have weighed in on EDU. Citigroup lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Macquarie lowered New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their price objective for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Morgan Stanley cut New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of "Hold" and a consensus price target of $61.20.

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.