American Century Companies Inc. Decreases Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

American Century Companies Inc. trimmed its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 94.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,579 shares of the company's stock after selling 373,407 shares during the quarter. American Century Companies Inc.'s holdings in New Oriental Education & Technology Group were worth $1,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of New Oriental Education & Technology Group by 1.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock worth $1,377,000 after acquiring an additional 247 shares in the last quarter. Blue Trust Inc. increased its holdings in New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after purchasing an additional 775 shares in the last quarter. Corient Private Wealth LLC raised its position in New Oriental Education & Technology Group by 27.4% in the fourth quarter. Corient Private Wealth LLC now owns 3,685 shares of the company's stock valued at $237,000 after purchasing an additional 792 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $51,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of New Oriental Education & Technology Group by 5.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,284 shares of the company's stock valued at $2,003,000 after acquiring an additional 1,496 shares during the last quarter.

Remove Ads

New Oriental Education & Technology Group Trading Up 4.0 %

EDU stock traded up $1.77 on Tuesday, hitting $45.86. The company had a trading volume of 813,241 shares, compared to its average volume of 1,891,910. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 19.51 and a beta of 0.37. New Oriental Education & Technology Group Inc. has a 12-month low of $40.66 and a 12-month high of $91.04. The stock's 50-day simple moving average is $48.45 and its 200 day simple moving average is $57.05.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EDU. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. China Renaissance lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and dropped their price target for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $61.20.

About New Oriental Education & Technology Group

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.