Greenwoods Asset Management Hong Kong Ltd. Sells 582,416 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Greenwoods Asset Management Hong Kong Ltd. trimmed its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,228,318 shares of the company's stock after selling 582,416 shares during the period. New Oriental Education & Technology Group comprises 2.5% of Greenwoods Asset Management Hong Kong Ltd.'s holdings, making the stock its 12th largest position. Greenwoods Asset Management Hong Kong Ltd. owned approximately 0.72% of New Oriental Education & Technology Group worth $78,833,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of New Oriental Education & Technology Group in the fourth quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 bought a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $138,000. Blue Trust Inc. increased its stake in shares of New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after purchasing an additional 775 shares during the last quarter. Finally, RWC Asset Management LLP bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $258,000.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Macquarie cut New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and reduced their price target for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. StockNews.com upgraded New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 5th. Morgan Stanley cut shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $61.20.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU traded up $0.67 during mid-day trading on Tuesday, hitting $48.89. 1,762,909 shares of the stock were exchanged, compared to its average volume of 1,755,150. The firm's 50-day simple moving average is $53.39 and its 200 day simple moving average is $60.13. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 20.80 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $95.88.

New Oriental Education & Technology Group Company 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.