Green Court Capital Management Ltd purchased a new stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 329,574 shares of the company's stock, valued at approximately $21,152,000. New Oriental Education & Technology Group makes up 14.0% of Green Court Capital Management Ltd's investment portfolio, making the stock its 3rd biggest position. Green Court Capital Management Ltd owned 0.19% of New Oriental Education & Technology Group as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fiera Capital Corp lifted its holdings in shares of New Oriental Education & Technology Group by 19.8% in the third quarter. Fiera Capital Corp now owns 51,371 shares of the company's stock valued at $3,896,000 after purchasing an additional 8,499 shares in the last quarter. JPMorgan Chase & Co. raised its position in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock valued at $62,703,000 after buying an additional 543,810 shares during the last quarter. Monolith Management Ltd bought a new position in New Oriental Education & Technology Group during the 3rd quarter valued at $15,168,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in New Oriental Education & Technology Group by 3.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company's stock worth $44,940,000 after acquiring an additional 19,401 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in New Oriental Education & Technology Group by 12.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company's stock worth $7,573,000 after acquiring an additional 11,423 shares during the last quarter.
Analyst Ratings Changes
EDU has been the subject of several analyst reports. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered shares of 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 research note on Wednesday, January 22nd. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their target price for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. Finally, Macquarie downgraded New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their price target for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $61.20.
Get Our Latest Research Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Stock Performance
EDU traded up $3.02 during midday trading on Wednesday, reaching $49.05. The company had a trading volume of 1,152,617 shares, compared to its average volume of 2,215,067. The business has a 50-day moving average price of $54.27 and a two-hundred day moving average price of $60.55. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $97.31. The stock has a market cap of $8.32 billion, a PE ratio of 20.87 and a beta of 0.42.
New Oriental Education & Technology Group 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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