GSA Capital Partners LLP boosted its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 66.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,299 shares of the company's stock after purchasing an additional 11,647 shares during the quarter. GSA Capital Partners LLP's holdings in New Oriental Education & Technology Group were worth $2,222,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Ridgewood Investments LLC bought a new position in shares of New Oriental Education & Technology Group in the second quarter worth approximately $43,000. Ashton Thomas Private Wealth LLC purchased a new position in New Oriental Education & Technology Group during the second quarter valued at $50,000. Blue Trust Inc. grew its stake in shares of New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company's stock valued at $62,000 after acquiring an additional 712 shares during the period. Hancock Whitney Corp bought a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at approximately $212,000. Finally, QRG Capital Management Inc. raised its position in shares of New Oriental Education & Technology Group by 7.4% during the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock valued at $285,000 after buying an additional 254 shares during the last quarter.
Analyst Ratings Changes
EDU has been the topic of a number of research analyst reports. StockNews.com upgraded New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Citigroup lowered their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, New Oriental Education & Technology Group presently has an average rating of "Moderate Buy" and a consensus price target of $99.67.
Read Our Latest Stock Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Stock Performance
New Oriental Education & Technology Group stock traded down $2.20 during mid-day trading on Tuesday, reaching $57.79. 450,454 shares of the company were exchanged, compared to its average volume of 1,867,863. New Oriental Education & Technology Group Inc. has a 12-month low of $56.18 and a 12-month high of $98.20. The business has a fifty day moving average of $66.10 and a 200 day moving average of $72.06. The firm has a market cap of $9.81 billion, a P/E ratio of 25.62 and a beta of 0.49.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The company's quarterly revenue was up 30.5% on a year-over-year basis. Sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.
New Oriental Education & Technology Group Announces Dividend
The company also recently announced a -- dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.
New Oriental Education & Technology Group Profile
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Free Report)
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.
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