JPMorgan Chase & Co. boosted its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 192.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 826,783 shares of the company's stock after buying an additional 543,810 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.49% of New Oriental Education & Technology Group worth $62,703,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Aspex Management HK Ltd raised its stake in New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company's stock worth $360,493,000 after buying an additional 1,513,640 shares during the last quarter. Renaissance Technologies LLC grew its holdings in New Oriental Education & Technology Group by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,175,554 shares of the company's stock worth $246,836,000 after acquiring an additional 164,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of New Oriental Education & Technology Group by 23.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,823,200 shares of the company's stock worth $138,271,000 after acquiring an additional 342,800 shares in the last quarter. Farallon Capital Management LLC lifted its stake in shares of New Oriental Education & Technology Group by 139.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company's stock valued at $114,231,000 after purchasing an additional 854,590 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in shares of New Oriental Education & Technology Group by 16.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company's stock valued at $107,283,000 after purchasing an additional 196,133 shares in the last quarter.
Analysts Set New Price Targets
A number of brokerages have weighed in on EDU. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a report on Thursday, October 17th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th.
Read Our Latest Research Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Trading Up 1.7 %
New Oriental Education & Technology Group stock traded up $1.07 during midday trading on Friday, reaching $62.63. The stock had a trading volume of 771,243 shares, compared to its average volume of 963,272. The company has a fifty day moving average price of $60.94 and a two-hundred day moving average price of $66.72. The company has a market capitalization of $10.63 billion, a P/E ratio of 26.77 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 12 month low of $54.00 and a 12 month high of $98.20.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business posted $0.99 earnings per share. New Oriental Education & Technology Group's revenue was up 30.5% on a year-over-year basis. On average, equities research analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.
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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