Prescott Group Capital Management L.L.C. lifted its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 153.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,303 shares of the company's stock after purchasing an additional 15,303 shares during the period. Prescott Group Capital Management L.L.C.'s holdings in New Oriental Education & Technology Group were worth $1,624,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the company. AIA Group Ltd acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter valued at about $5,673,000. Fiera Capital Corp boosted its position in New Oriental Education & Technology Group by 19.8% during the third quarter. Fiera Capital Corp now owns 51,371 shares of the company's stock worth $3,896,000 after purchasing an additional 8,499 shares during the period. GSA Capital Partners LLP boosted its position in shares of New Oriental Education & Technology Group by 66.0% in the third quarter. GSA Capital Partners LLP now owns 29,299 shares of the company's stock valued at $2,222,000 after acquiring an additional 11,647 shares during the period. Oppenheimer Asset Management Inc. bought a new position in New Oriental Education & Technology Group in the third quarter worth $297,000. Finally, Broad Peak Investment Advisers Pte Ltd lifted its position in New Oriental Education & Technology Group by 88.7% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 421,941 shares of the company's stock worth $32,000,000 after purchasing an additional 198,291 shares during the period.
Analyst Ratings Changes
A number of brokerages have recently weighed in on EDU. Morgan Stanley lowered New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. StockNews.com raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Wednesday. Macquarie lowered New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their target price for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $61.20.
Get Our Latest Analysis on EDU
New Oriental Education & Technology Group Price Performance
Shares of EDU stock traded up $0.70 during trading hours on Friday, reaching $49.29. The company had a trading volume of 743,257 shares, compared to its average volume of 2,164,815. New Oriental Education & Technology Group Inc. has a 12 month low of $44.46 and a 12 month high of $95.88. The business has a fifty day simple moving average of $53.39 and a 200-day simple moving average of $60.19. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 20.97 and a beta of 0.47.
About New Oriental Education & Technology Group
(
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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