Dorsey Wright & Associates Sells 37,096 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Dorsey Wright & Associates decreased its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 76.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,115 shares of the company's stock after selling 37,096 shares during the period. Dorsey Wright & Associates' holdings in New Oriental Education & Technology Group were worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter worth about $43,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter worth about $50,000. Blue Trust Inc. lifted its position in shares of New Oriental Education & Technology Group by 782.4% in the second quarter. Blue Trust Inc. now owns 803 shares of the company's stock worth $62,000 after buying an additional 712 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 during the last quarter. Finally, Hancock Whitney Corp acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter worth about $212,000.

New Oriental Education & Technology Group Stock Performance

Shares of New Oriental Education & Technology Group stock traded down $1.07 during trading on Friday, reaching $62.23. The company's stock had a trading volume of 2,927,663 shares, compared to its average volume of 1,392,012. The business's fifty day moving average price is $64.77 and its 200-day moving average price is $68.84. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 26.59 and a beta of 0.46. 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 results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The company's quarterly revenue was up 30.5% compared to the same quarter last year. Sell-side analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com upgraded New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th.

New Oriental Education & Technology Group Company Profile

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.