FIL Ltd raised its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,318,432 shares of the company's stock after purchasing an additional 113,715 shares during the quarter. FIL Ltd owned approximately 0.78% of New Oriental Education & Technology Group worth $84,617,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in New Oriental Education & Technology Group by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock valued at $1,377,000 after acquiring an additional 247 shares during the period. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth about $45,000. Blue Trust Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after buying an additional 775 shares during the period. Corient Private Wealth LLC grew its stake in New Oriental Education & Technology Group by 27.4% in the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company's stock valued at $237,000 after buying an additional 792 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in New Oriental Education & Technology Group in the 4th quarter valued at about $51,000.
Wall Street Analyst Weigh In
A number of brokerages have commented on EDU. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and cut their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Citigroup cut shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. Finally, China Renaissance cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of "Hold" and an average price target of $61.20.
Check Out Our Latest Analysis on EDU
New Oriental Education & Technology Group Trading Up 3.1 %
Shares of EDU traded up $1.36 during trading hours on Tuesday, reaching $45.45. The stock had a trading volume of 564,350 shares, compared to its average volume of 1,890,920. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 19.34 and a beta of 0.37. The firm has a 50-day simple moving average of $48.45 and a 200 day simple moving average of $57.05. New Oriental Education & Technology Group Inc. has a 12 month low of $40.66 and a 12 month high of $91.04.
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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