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Monolith Management Ltd Invests $15.17 Million in New Oriental Education & Technology Group Inc. (NYSE:EDU)

New Oriental Education & Technology Group logo with Consumer Discretionary background

Monolith Management Ltd purchased a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200,000 shares of the company's stock, valued at approximately $15,168,000. New Oriental Education & Technology Group comprises about 8.9% of Monolith Management Ltd's portfolio, making the stock its 6th biggest position. Monolith Management Ltd owned approximately 0.12% of New Oriental Education & Technology Group as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of New Oriental Education & Technology Group by 5.5% during the second quarter. Renaissance Technologies LLC now owns 3,175,554 shares of the company's stock worth $246,836,000 after purchasing an additional 164,600 shares in the last quarter. WT Asset Management Ltd increased its position in New Oriental Education & Technology Group by 21.4% during the second quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company's stock worth $134,533,000 after buying an additional 304,712 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of New Oriental Education & Technology Group by 3.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company's stock worth $115,071,000 after buying an additional 56,100 shares in the last quarter. Farallon Capital Management LLC grew its holdings in New Oriental Education & Technology Group by 139.0% in the second 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 increased its position in New Oriental Education & Technology Group by 16.6% during the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company's stock worth $107,283,000 after purchasing an additional 196,133 shares during the last quarter.

New Oriental Education & Technology Group Stock Up 3.4 %

Shares of New Oriental Education & Technology Group stock traded up $1.94 during trading on Monday, hitting $59.30. The stock had a trading volume of 879,005 shares, compared to its average volume of 1,857,964. New Oriental Education & Technology Group Inc. has a 1 year low of $54.00 and a 1 year high of $98.20. The company has a market capitalization of $10.06 billion, a PE ratio of 24.51 and a beta of 0.49. The stock has a 50 day simple moving average of $65.36 and a 200 day simple moving average of $70.46.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The company's revenue for the quarter was up 30.5% on a year-over-year basis. As a group, equities analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com raised shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Citigroup reduced their price target on New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd.

Get Our Latest Stock Report on EDU

About New Oriental Education & Technology Group

(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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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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