Erste Asset Management GmbH purchased a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,000 shares of the company's stock, valued at approximately $1,264,000.
A number of other institutional investors have also recently made changes to their positions in EDU. SBI Securities Co. Ltd. bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after buying an additional 206 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $138,000. Blue Trust Inc. grew its position in shares of New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock valued at $181,000 after buying an additional 775 shares during the last quarter. Finally, RWC Asset Management LLP acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $258,000.
New Oriental Education & Technology Group Trading Up 0.2 %
EDU stock traded up $0.11 during trading on Wednesday, reaching $52.67. 1,027,960 shares of the stock were exchanged, compared to its average volume of 1,749,821. The firm's 50 day moving average is $51.49 and its 200 day moving average is $59.39. New Oriental Education & Technology Group Inc. has a twelve month low of $44.46 and a twelve month high of $95.88. The firm has a market cap of $8.94 billion, a P/E ratio of 22.41 and a beta of 0.47.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. StockNews.com downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Macquarie downgraded New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and dropped their price objective for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $61.20.
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About New Oriental Education & Technology Group
(
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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