Legal & General Group Plc trimmed its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,856 shares of the company's stock after selling 13,188 shares during the period. Legal & General Group Plc owned approximately 0.07% of New Oriental Education & Technology Group worth $7,425,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in New Oriental Education & Technology Group by 175.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock valued at $146,123,000 after acquiring an additional 1,449,979 shares in the last quarter. Norges Bank bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $92,345,000. FMR LLC raised its stake in New Oriental Education & Technology Group by 46.3% in the fourth quarter. FMR LLC now owns 4,539,678 shares of the company's stock valued at $291,357,000 after buying an additional 1,437,656 shares during the period. Schroder Investment Management Group lifted its holdings in New Oriental Education & Technology Group by 17.2% during the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company's stock valued at $193,815,000 after purchasing an additional 442,656 shares during the last quarter. Finally, Panview Capital Ltd bought a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth about $27,358,000.
Analyst Upgrades and Downgrades
A number of research analysts have commented on EDU shares. Macquarie lowered New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Finally, Citigroup lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $61.20.
Read Our Latest Research Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Trading Up 1.5 %
Shares of EDU stock opened at $44.84 on Friday. New Oriental Education & Technology Group Inc. has a 12 month low of $40.66 and a 12 month high of $91.04. The firm has a market capitalization of $7.61 billion, a PE ratio of 19.08 and a beta of 0.37. The firm has a fifty day simple moving average of $48.02 and a two-hundred day simple moving average of $56.44.
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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