WT Asset Management Ltd Sells 530,910 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

WT Asset Management Ltd lowered its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 81.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 124,882 shares of the company's stock after selling 530,910 shares during the period. New Oriental Education & Technology Group accounts for 0.9% of WT Asset Management Ltd's portfolio, making the stock its 21st biggest holding. WT Asset Management Ltd owned about 0.07% of New Oriental Education & Technology Group worth $8,015,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EDU. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after buying an additional 206 shares during the period. Blue Trust Inc. lifted its holdings in 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 last quarter. ABS Direct Equity Fund LLC boosted its position in shares of New Oriental Education & Technology Group by 17.5% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company's stock valued at $561,000 after purchasing an additional 1,100 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of New Oriental Education & Technology Group by 49.4% in the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company's stock worth $309,000 after purchasing an additional 1,348 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of New Oriental Education & Technology Group by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 30,895 shares of the company's stock worth $2,342,000 after purchasing an additional 3,287 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU traded up $0.14 during mid-day trading on Friday, reaching $48.44. The company had a trading volume of 1,712,424 shares, compared to its average volume of 2,422,338. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 20.61 and a beta of 0.42. The stock has a fifty day moving average of $58.13 and a two-hundred day moving average of $62.81. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $98.20.

Wall Street Analyst Weigh In

Several research firms have issued reports on EDU. Citigroup cut New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their price target for the company from $83.00 to $50.00 in a report on Friday, January 24th. Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. Macquarie downgraded New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and cut their price objective for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. StockNews.com upgraded shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and cut their price target 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, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, New Oriental Education & Technology Group has an average rating of "Hold" and an average target price of $61.20.

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.