Investors Buy High Volume of New Oriental Education & Technology Group Put Options (NYSE:EDU)

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) was the target of some unusual options trading on Monday. Investors purchased 15,116 put options on the company. This represents an increase of 1,348% compared to the average volume of 1,044 put options.

Institutional Trading of New Oriental Education & Technology Group

A number of large investors have recently modified their holdings of EDU. GeoWealth Management LLC raised its stake in New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Westpac Banking Corp bought a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at $51,000. Natixis lifted its holdings in shares of New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after acquiring an additional 248 shares during the last quarter. Finally, BNP Paribas purchased a new position in New Oriental Education & Technology Group in the fourth quarter worth $113,000.

New Oriental Education & Technology Group Stock Up 0.2 %

NYSE:EDU traded up $0.10 during trading hours on Friday, hitting $46.22. 583,926 shares of the company's stock traded hands, compared to its average volume of 1,875,869. The firm has a market cap of $7.84 billion, a P/E ratio of 19.90 and a beta of 0.37. The business's fifty day simple moving average is $47.27 and its two-hundred day simple moving average is $55.48. New Oriental Education & Technology Group has a 52 week low of $40.66 and a 52 week high of $89.33.

Analysts Set New Price Targets

Several research firms have recently weighed in on EDU. Macquarie downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and reduced their target price for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. JPMorgan Chase & Co. cut their price target on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Monday. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. Finally, Morgan Stanley downgraded New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $60.80.

About New Oriental Education & Technology Group

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.