New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Blue Creek Capital Management Ltd

Blue Creek Capital Management Ltd decreased its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 38.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 170,512 shares of the company's stock after selling 106,600 shares during the period. New Oriental Education & Technology Group makes up about 15.0% of Blue Creek Capital Management Ltd's investment portfolio, making the stock its 4th largest position. Blue Creek Capital Management Ltd owned 0.10% of New Oriental Education & Technology Group worth $10,943,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EDU. DekaBank Deutsche Girozentrale acquired a new position in shares of New Oriental Education & Technology Group during the third quarter worth about $629,000. Veritas Asset Management LLP lifted its position in New Oriental Education & Technology Group by 22.3% during the 3rd quarter. Veritas Asset Management LLP now owns 26,038 shares of the company's stock worth $1,975,000 after acquiring an additional 4,747 shares in the last quarter. AIA Group Ltd acquired a new position in New Oriental Education & Technology Group during the 3rd quarter worth approximately $5,673,000. Fiera Capital Corp grew its position in New Oriental Education & Technology Group by 19.8% in the third quarter. Fiera Capital Corp now owns 51,371 shares of the company's stock valued at $3,896,000 after acquiring an additional 8,499 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in New Oriental Education & Technology Group by 66.0% in the third quarter. GSA Capital Partners LLP now owns 29,299 shares of the company's stock valued at $2,222,000 after acquiring an additional 11,647 shares in the last quarter.

Analysts Set New Price Targets

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

New Oriental Education & Technology Group Stock Down 4.9 %

Shares of EDU traded down $2.35 during midday trading on Monday, hitting $45.73. The company had a trading volume of 1,386,780 shares, compared to its average volume of 2,270,984. New Oriental Education & Technology Group Inc. has a 52 week low of $44.46 and a 52 week high of $98.20. The company's 50 day moving average price is $54.97 and its 200 day moving average price is $60.89. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 19.46 and a beta of 0.42.

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.