JPMorgan Chase & Co. Purchases 1,449,979 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

JPMorgan Chase & Co. grew its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 175.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,276,762 shares of the company's stock after acquiring an additional 1,449,979 shares during the quarter. JPMorgan Chase & Co. owned about 1.34% of New Oriental Education & Technology Group worth $146,123,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EDU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in New Oriental Education & Technology Group by 20,215.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company's stock valued at $75,418,000 after acquiring an additional 989,536 shares in the last quarter. Panview Capital Ltd bought a new stake in New Oriental Education & Technology Group in the 4th quarter worth approximately $27,358,000. Public Employees Retirement System of Ohio bought a new stake in New Oriental Education & Technology Group in the 3rd quarter worth approximately $27,425,000. Carrhae Capital LLP increased its position in New Oriental Education & Technology Group by 52.4% during the fourth quarter. Carrhae Capital LLP now owns 1,042,689 shares of the company's stock valued at $66,920,000 after acquiring an additional 358,502 shares during the last quarter. Finally, Green Court Capital Management Ltd bought a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $21,152,000.

Wall Street Analysts Forecast Growth

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

Remove Ads

New Oriental Education & Technology Group Stock Performance

EDU stock traded down $3.13 during midday trading on Friday, reaching $44.66. The company's stock had a trading volume of 3,815,475 shares, compared to its average volume of 1,887,377. New Oriental Education & Technology Group Inc. has a 1 year low of $43.34 and a 1 year high of $91.04. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 19.00 and a beta of 0.37. The stock has a fifty day simple moving average of $49.36 and a two-hundred day simple moving average of $58.27.

New Oriental Education & Technology Group Profile

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.