Edmond DE Rothschild Holding S.A. reduced its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,798 shares of the company's stock after selling 29,625 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in New Oriental Education & Technology Group were worth $5,250,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AIA Group Ltd lifted its stake in New Oriental Education & Technology Group by 11.0% in the fourth 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 raised its holdings in shares of New Oriental Education & Technology Group by 57.9% in the 4th quarter. Wellington Management Group LLP now owns 627,686 shares of the company's stock valued at $40,285,000 after purchasing an additional 230,140 shares in the last quarter. 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 worth $193,815,000 after buying an additional 442,656 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of 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 worth $9,966,000 after acquiring an additional 6,342 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $92,345,000.
New Oriental Education & Technology Group Stock Performance
Shares of NYSE:EDU traded down $3.13 during mid-day trading on Friday, hitting $44.66. 3,815,475 shares of the company traded hands, compared to its average volume of 1,887,377. The firm has a market cap of $7.58 billion, a P/E ratio of 19.00 and a beta of 0.37. The firm's 50 day simple moving average is $49.36 and its 200 day simple moving average is $58.28. New Oriental Education & Technology Group Inc. has a 52-week low of $43.34 and a 52-week high of $91.04.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on EDU shares. StockNews.com downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Morgan Stanley lowered New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $83.00 to $50.00 in a report on Friday, January 24th. Finally, China Renaissance cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $61.20.
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About New Oriental Education & Technology Group
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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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