Lbp Am Sa Purchases New Shares in New Oriental Education & Technology Group Inc. (NYSE:EDU)

LBP AM SA acquired a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,700 shares of the company's stock, valued at approximately $3,061,000.

Several other hedge funds and other institutional investors have also modified their holdings of EDU. SBI Securities Co. Ltd. acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth $51,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock worth $126,000 after buying an additional 206 shares in the last quarter. Empowered Funds LLC acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth $138,000. Blue Trust Inc. boosted its stake in 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 buying an additional 775 shares in the last quarter. Finally, RWC Asset Management LLP acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth $258,000.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU traded down $0.69 during midday trading on Thursday, reaching $51.97. 780,428 shares of the company traded hands, compared to its average volume of 1,749,358. The firm has a market cap of $8.82 billion, a PE ratio of 22.11 and a beta of 0.47. The stock's 50-day simple moving average is $51.27 and its 200-day simple moving average is $59.34. New Oriental Education & Technology Group Inc. has a 12 month low of $44.46 and a 12 month high of $95.88.

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Analyst Upgrades and Downgrades

A number of research firms have weighed in on EDU. Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their price target for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.