Fmr LLC Sells 576,272 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

FMR LLC lessened its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,102,022 shares of the company's stock after selling 576,272 shares during the quarter. FMR LLC owned 1.83% of New Oriental Education & Technology Group worth $235,257,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Beverly Hills Private Wealth LLC boosted its stake in shares of New Oriental Education & Technology Group by 5.7% in the second quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company's stock valued at $326,000 after buying an additional 227 shares during the period. Profund Advisors LLC grew its holdings in shares of 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 worth $1,344,000 after purchasing an additional 231 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of New Oriental Education & Technology Group by 7.4% in the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock worth $285,000 after purchasing an additional 254 shares during the period. Ridgewood Investments LLC acquired a new position in New Oriental Education & Technology Group in the second quarter valued at about $43,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in New Oriental Education & Technology Group during the second quarter worth about $50,000.

New Oriental Education & Technology Group Stock Performance

Shares of EDU traded up $1.62 during mid-day trading on Monday, reaching $59.94. The company had a trading volume of 683,700 shares, compared to its average volume of 1,843,354. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 24.95 and a beta of 0.49. The company's 50 day simple moving average is $65.14 and its 200 day simple moving average is $69.49. New Oriental Education & Technology Group Inc. has a 1-year low of $54.00 and a 1-year high of $98.20.

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

Analyst Upgrades and Downgrades

EDU has been the topic of several recent analyst reports. StockNews.com raised shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th.

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.