Harvest Fund Management Co. Ltd lifted its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,420 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. New Oriental Education & Technology Group accounts for approximately 1.3% of Harvest Fund Management Co. Ltd's portfolio, making the stock its 15th largest position. Harvest Fund Management Co. Ltd owned about 0.17% of New Oriental Education & Technology Group worth $21,935,000 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. Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group during the second quarter worth about $43,000. Ashton Thomas Private Wealth LLC bought a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $50,000. Blue Trust Inc. increased its position in New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company's stock valued at $62,000 after buying an additional 712 shares in the last quarter. Hancock Whitney Corp bought a new stake in New Oriental Education & Technology Group in the second quarter worth $212,000. Finally, QRG Capital Management Inc. grew its position in New Oriental Education & Technology Group by 7.4% during the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock valued at $285,000 after purchasing an additional 254 shares during the last quarter.
Analyst Upgrades and Downgrades
EDU has been the subject of a number of recent analyst reports. StockNews.com raised New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th. Finally, Citigroup lowered their price target on New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, August 2nd.
View Our Latest Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Stock Performance
NYSE EDU traded up $1.94 on Monday, reaching $59.30. 879,005 shares of the stock traded hands, compared to its average volume of 1,857,964. The company has a fifty day moving average price of $65.36 and a 200-day moving average price of $70.46. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 24.51 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a 12 month low of $54.00 and a 12 month high of $98.20.
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 (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. New Oriental Education & Technology Group's revenue was up 30.5% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. As a group, research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.
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.
Featured Articles
Before you consider New Oriental Education & Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Oriental Education & Technology Group wasn't on the list.
While New Oriental Education & Technology Group currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
