New Oriental Education & Technology Group Inc. (NYSE:EDU) Holdings Cut by Aigen Investment Management LP

Aigen Investment Management LP lessened its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 51.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,715 shares of the company's stock after selling 14,763 shares during the quarter. Aigen Investment Management LP's holdings in New Oriental Education & Technology Group were worth $1,040,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at $43,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $50,000. Blue Trust Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company's stock valued at $62,000 after acquiring an additional 712 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $212,000. Finally, QRG Capital Management Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 7.4% during the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock valued at $285,000 after acquiring an additional 254 shares in the last quarter.

New Oriental Education & Technology Group Trading Down 4.7 %

EDU traded down $2.73 on Wednesday, hitting $55.38. 1,840,696 shares of the company's stock were exchanged, compared to its average volume of 1,872,024. The stock has a fifty day moving average of $65.96 and a two-hundred day moving average of $71.76. New Oriental Education & Technology Group Inc. has a twelve month low of $55.30 and a twelve month high of $98.20. The firm has a market cap of $9.40 billion, a PE ratio of 23.67 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business earned $0.99 earnings per share. New Oriental Education & Technology Group's revenue was up 30.5% compared to the same quarter last year. On average, analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

New Oriental Education & Technology Group Dividend Announcement

The company also recently declared a -- dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a $0.58 dividend. The ex-dividend date was Monday, September 9th.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th. Citigroup dropped their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.67.

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.