Harvest Fund Management Co. Ltd lowered its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 203,796 shares of the company's stock after selling 85,624 shares during the period. New Oriental Education & Technology Group makes up approximately 0.6% of Harvest Fund Management Co. Ltd's holdings, making the stock its 28th largest holding. Harvest Fund Management Co. Ltd owned about 0.12% of New Oriental Education & Technology Group worth $13,059,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Aspex Management HK Ltd grew its position in New Oriental Education & Technology Group by 46.7% during the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company's stock worth $360,493,000 after acquiring an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company's stock worth $75,418,000 after buying an additional 989,536 shares during the period. JPMorgan Chase & Co. increased its stake in shares of New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock worth $62,703,000 after buying an additional 543,810 shares during the period. Panview Capital Ltd bought a new stake in New Oriental Education & Technology Group during the 4th quarter valued at $27,358,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at $27,425,000.
New Oriental Education & Technology Group Trading Down 3.5 %
New Oriental Education & Technology Group stock traded down $1.80 during trading hours on Friday, hitting $50.12. 738,732 shares of the stock traded hands, compared to its average volume of 1,754,887. New Oriental Education & Technology Group Inc. has a one year low of $44.46 and a one year high of $92.50. The firm's 50-day moving average price is $50.80 and its two-hundred day moving average price is $59.20. The company has a market cap of $8.50 billion, a PE ratio of 21.33 and a beta of 0.47.
Analyst Upgrades and Downgrades
EDU has been the subject of several recent analyst reports. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price objective for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup cut New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group has a consensus rating of "Hold" and a consensus price target of $61.20.
Read Our Latest Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Profile
(
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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