New Oriental Education & Technology Group Inc. (NYSE:EDU) Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 97.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,781 shares of the company's stock after selling 315,421 shares during the quarter. Victory Capital Management Inc.'s holdings in New Oriental Education & Technology Group were worth $499,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Green Court Capital Management Ltd acquired a new position in New Oriental Education & Technology Group during the 4th quarter valued at about $21,152,000. SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $51,000. RWC Asset Management LLP bought a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $258,000. Panview Capital Ltd acquired a new stake in New Oriental Education & Technology Group in the fourth quarter worth approximately $27,358,000. Finally, Lester Murray Antman dba SimplyRich bought a new position in New Oriental Education & Technology Group during the 4th quarter valued at $322,000.

Wall Street Analyst Weigh In

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

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New Oriental Education & Technology Group Stock Down 2.5 %

Shares of New Oriental Education & Technology Group stock traded down $1.19 during trading on Tuesday, hitting $46.37. The stock had a trading volume of 1,659,675 shares, compared to its average volume of 1,756,650. New Oriental Education & Technology Group Inc. has a 1 year low of $44.46 and a 1 year high of $92.50. The stock has a 50 day simple moving average of $50.57 and a 200 day simple moving average of $59.10. The company has a market capitalization of $7.87 billion, a PE ratio of 19.73 and a beta of 0.47.

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.