Marshall Wace LLP boosted its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,717 shares of the company's stock after acquiring an additional 21,815 shares during the period. Marshall Wace LLP owned 0.10% of New Oriental Education & Technology Group worth $11,213,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of New Oriental Education & Technology Group by 46.3% during the 4th quarter. FMR LLC now owns 4,539,678 shares of the company's stock valued at $291,357,000 after purchasing an additional 1,437,656 shares during the last quarter. Schroder Investment Management Group increased its position in New Oriental Education & Technology Group by 17.2% during the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company's stock valued at $193,815,000 after buying an additional 442,656 shares in the last quarter. JPMorgan Chase & Co. raised its stake in New Oriental Education & Technology Group by 175.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock valued at $146,123,000 after buying an additional 1,449,979 shares during the last quarter. Norges Bank acquired a new stake in New Oriental Education & Technology Group in the fourth quarter worth about $92,345,000. Finally, FIL Ltd grew its stake in shares of New Oriental Education & Technology Group by 9.4% during the fourth quarter. FIL Ltd now owns 1,318,432 shares of the company's stock worth $84,617,000 after acquiring an additional 113,715 shares during the last quarter.
Analysts Set New Price Targets
A number of analysts recently commented on EDU shares. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price objective for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. China Renaissance cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $60.80.
Get Our Latest Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Price Performance
NYSE:EDU traded up $0.83 during trading hours on Friday, reaching $46.95. The company had a trading volume of 1,497,589 shares, compared to its average volume of 1,879,302. New Oriental Education & Technology Group Inc. has a 1-year low of $40.66 and a 1-year high of $89.33. The business's 50 day moving average price is $47.27 and its 200-day moving average price is $55.48. The firm has a market cap of $7.97 billion, a PE ratio of 19.98 and a beta of 0.37.
New Oriental Education & Technology Group 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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