Citigroup Inc. Boosts Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Citigroup Inc. boosted its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 20.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 803,508 shares of the company's stock after purchasing an additional 136,138 shares during the period. Citigroup Inc. owned about 0.47% of New Oriental Education & Technology Group worth $60,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EDU. Price T Rowe Associates Inc. MD purchased a new stake in New Oriental Education & Technology Group in the 1st quarter worth $103,392,000. Farallon Capital Management LLC raised its stake in New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company's stock valued at $114,231,000 after purchasing an additional 854,590 shares during the period. Millennium Management LLC raised its stake in New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company's stock valued at $56,880,000 after purchasing an additional 436,098 shares during the period. Thornburg Investment Management Inc. lifted its holdings in New Oriental Education & Technology Group by 211.7% in the 2nd quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company's stock worth $43,058,000 after purchasing an additional 376,036 shares in the last quarter. Finally, WT Asset Management Ltd boosted its stake in New Oriental Education & Technology Group by 21.4% in the 2nd quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company's stock worth $134,533,000 after purchasing an additional 304,712 shares during the period.

Analyst Upgrades and Downgrades

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

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock traded down $0.35 during trading hours on Friday, reaching $57.36. The company's stock had a trading volume of 1,329,923 shares, compared to its average volume of 1,428,259. The firm has a 50 day moving average price of $65.36 and a 200-day moving average price of $70.54. The stock has a market cap of $9.73 billion, a P/E ratio of 24.51 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a one year low of $54.00 and a one year high of $98.20.

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

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.