Barclays PLC reduced its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 99.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,121 shares of the company's stock after selling 112,259 shares during the period. Barclays PLC's holdings in New Oriental Education & Technology Group were worth $85,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of New Oriental Education & Technology Group by 14.2% in 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. Blue Trust Inc. raised its holdings in New Oriental Education & Technology Group by 155.5% in the 3rd quarter. Blue Trust Inc. now owns 2,052 shares of the company's stock valued at $160,000 after acquiring an additional 1,249 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in New Oriental Education & Technology Group in the 3rd quarter worth approximately $297,000. Hancock Whitney Corp boosted its holdings in shares of New Oriental Education & Technology Group by 49.4% during the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company's stock worth $309,000 after purchasing an additional 1,348 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of New Oriental Education & Technology Group in the third quarter valued at approximately $316,000.
New Oriental Education & Technology Group Stock Down 0.1 %
NYSE EDU traded down $0.04 on Friday, reaching $46.71. The stock had a trading volume of 2,205,484 shares, compared to its average volume of 1,828,070. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $98.20. The stock has a fifty day moving average price of $60.03 and a two-hundred day moving average price of $64.70. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.88 and a beta of 0.44.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the previous year, the firm posted $0.99 EPS. New Oriental Education & Technology Group's revenue for the quarter was up 30.5% on a year-over-year basis. Sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
EDU has been the topic of a number of recent research reports. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $83.00 to $50.00 in a research note on Friday. StockNews.com raised shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $85.00 to $50.00 in a research note on Wednesday. Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $83.00 to $52.00 in a research note on Wednesday. Finally, Macquarie downgraded New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and reduced their target price for the company from $79.00 to $44.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of "Hold" and an average target price of $61.20.
Read Our Latest Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Company Profile
(
Free Report)
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.
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