Barings LLC lessened its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 41.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,162 shares of the company's stock after selling 163,054 shares during the period. Barings LLC owned approximately 0.14% of New Oriental Education & Technology Group worth $14,836,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in EDU. SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after acquiring an additional 206 shares during the period. Empowered Funds LLC acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $138,000. Blue Trust Inc. increased its position in shares of New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock valued at $181,000 after acquiring an additional 775 shares during the period. Finally, RWC Asset Management LLP acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $258,000.
New Oriental Education & Technology Group Price Performance
New Oriental Education & Technology Group stock traded up $0.70 during midday trading on Friday, reaching $49.29. The company had a trading volume of 743,257 shares, compared to its average volume of 2,164,815. The company has a market capitalization of $8.36 billion, a P/E ratio of 20.97 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $95.88. The firm's fifty day simple moving average is $53.39 and its 200-day simple moving average is $60.13.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Macquarie downgraded New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and cut their price target for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Finally, StockNews.com raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Wednesday. One 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. Based on data from MarketBeat, New Oriental Education & Technology Group has a consensus rating of "Hold" and an average target price of $61.20.
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About New Oriental Education & Technology Group
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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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