Schroder Investment Management Group lifted its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 17.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,019,859 shares of the company's stock after buying an additional 442,656 shares during the quarter. Schroder Investment Management Group owned about 1.78% of New Oriental Education & Technology Group worth $193,815,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of EDU. SBI Securities Co. Ltd. bought a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock worth $126,000 after purchasing an additional 206 shares in the last quarter. Empowered Funds LLC bought a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth $138,000. Blue Trust Inc. raised its stake in New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock valued at $181,000 after purchasing an additional 775 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $224,000.
Wall Street Analysts Forecast Growth
EDU has been the subject of a number of recent analyst reports. Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. StockNews.com lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Morgan Stanley lowered New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.20.
Check Out Our Latest Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Stock Down 2.3 %
New Oriental Education & Technology Group stock traded down $1.10 during trading hours on Thursday, hitting $47.49. The stock had a trading volume of 635,296 shares, compared to its average volume of 1,866,191. The business's 50 day simple moving average is $49.38 and its 200-day simple moving average is $58.48. New Oriental Education & Technology Group Inc. has a one year low of $44.46 and a one year high of $91.04. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 20.21 and a beta of 0.47.
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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