New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Acquired by Carrhae Capital LLP

Carrhae Capital LLP raised its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 52.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,042,689 shares of the company's stock after purchasing an additional 358,502 shares during the quarter. New Oriental Education & Technology Group makes up approximately 5.6% of Carrhae Capital LLP's holdings, making the stock its 6th biggest position. Carrhae Capital LLP owned about 0.61% of New Oriental Education & Technology Group worth $66,920,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in New Oriental Education & Technology Group in the fourth quarter worth $51,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock worth $126,000 after buying an additional 206 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth about $138,000. Blue Trust Inc. boosted its stake in shares of New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after acquiring an additional 775 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $224,000.

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New Oriental Education & Technology Group Trading Down 1.3 %

NYSE:EDU traded down $0.60 during trading hours on Friday, hitting $46.99. 860,128 shares of the company traded hands, compared to its average volume of 1,876,046. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 20.00 and a beta of 0.47. The firm has a 50-day moving average of $49.57 and a 200 day moving average of $58.72. New Oriental Education & Technology Group Inc. has a twelve month low of $44.46 and a twelve month high of $91.04.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EDU shares. StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their price target for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Finally, China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $61.20.

About New Oriental Education & Technology Group

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.