FMR LLC grew its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,539,678 shares of the company's stock after purchasing an additional 1,437,656 shares during the quarter. FMR LLC owned approximately 2.68% of New Oriental Education & Technology Group worth $291,357,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Westpac Banking Corp purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $51,000. Empowered Funds LLC purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $138,000. Blue Trust Inc. increased its stake 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 worth $181,000 after acquiring an additional 775 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $224,000.
Wall Street Analysts Forecast Growth
EDU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Macquarie cut shares of 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 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 reduced their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. StockNews.com downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Finally, China Renaissance lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $61.20.
Get Our Latest Stock Report on EDU
New Oriental Education & Technology Group Price Performance
Shares of NYSE:EDU traded down $0.65 during trading on Wednesday, reaching $44.85. The company had a trading volume of 271,746 shares, compared to its average volume of 1,864,020. The stock's fifty day moving average price is $48.40 and its 200 day moving average price is $56.97. New Oriental Education & Technology Group Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $91.04. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 19.09 and a beta of 0.37.
New Oriental Education & Technology Group Company Profile
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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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