Connor Clark & Lunn Investment Management Ltd. acquired a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,210 shares of the company's stock, valued at approximately $1,609,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of EDU. Beverly Hills Private Wealth LLC raised its holdings in New Oriental Education & Technology Group by 5.7% during the second quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company's stock worth $326,000 after buying an additional 227 shares during the last quarter. Profund Advisors LLC boosted its stake in New Oriental Education & Technology Group by 1.4% during the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company's stock valued at $1,344,000 after purchasing an additional 231 shares during the last quarter. QRG Capital Management Inc. increased its holdings in 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 worth $285,000 after purchasing an additional 254 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group in the second quarter worth approximately $43,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $50,000.
Wall Street Analyst Weigh In
EDU has been the topic of several recent analyst reports. Citigroup dropped their price objective on 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. StockNews.com raised shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a research report on Thursday, October 17th.
View Our Latest Stock Analysis on EDU
New Oriental Education & Technology Group Trading Down 0.4 %
Shares of NYSE:EDU traded down $0.21 during mid-day trading on Tuesday, reaching $58.58. The company had a trading volume of 894,986 shares, compared to its average volume of 1,856,778. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 25.00 and a beta of 0.49. The company's 50-day moving average price is $65.35 and its 200-day moving average price is $70.28. 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 released its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.27. The business had revenue of $1.44 billion during 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 business's revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the business posted $0.99 earnings per share. On average, research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.
New Oriental Education & Technology Group Company Profile
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Free Report)
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.
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