Massachusetts Financial Services Co. MA trimmed its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 71.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,212 shares of the company's stock after selling 71,646 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in New Oriental Education & Technology Group were worth $1,811,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. AIA Group Ltd grew its position in New Oriental Education & Technology Group by 11.0% during the 4th quarter. AIA Group Ltd now owns 83,033 shares of the company's stock worth $5,329,000 after acquiring an additional 8,230 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of New Oriental Education & Technology Group by 57.9% in the fourth quarter. Wellington Management Group LLP now owns 627,686 shares of the company's stock worth $40,285,000 after purchasing an additional 230,140 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of New Oriental Education & Technology Group by 17.2% in the fourth quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company's stock worth $193,815,000 after buying an additional 442,656 shares during the period. Pictet Asset Management Holding SA raised its holdings in New Oriental Education & Technology Group by 4.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 155,284 shares of the company's stock valued at $9,966,000 after buying an additional 6,342 shares during the last quarter. Finally, Norges Bank purchased a new stake in New Oriental Education & Technology Group during the 4th quarter valued at $92,345,000.
New Oriental Education & Technology Group Stock Up 6.1 %
Shares of NYSE:EDU traded up $2.64 during trading on Monday, hitting $45.67. The stock had a trading volume of 133,178 shares, compared to its average volume of 1,890,846. The company has a market capitalization of $7.75 billion, a PE ratio of 19.43 and a beta of 0.37. The firm's fifty day moving average is $48.51 and its 200 day moving average is $57.25. New Oriental Education & Technology Group Inc. has a 12 month low of $40.66 and a 12 month high of $91.04.
Wall Street Analysts Forecast Growth
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. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Morgan Stanley cut New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.20.
Get Our Latest Stock Report on EDU
New Oriental Education & Technology Group Company 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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