Norges Bank bought a new stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,438,842 shares of the company's stock, valued at approximately $92,345,000. Norges Bank owned approximately 0.85% of New Oriental Education & Technology Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after purchasing an additional 206 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company's stock worth $75,418,000 after acquiring an additional 989,536 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter valued at about $320,000. Centiva Capital LP bought a new position in New Oriental Education & Technology Group in the third quarter worth approximately $1,261,000. Finally, Janus Henderson Group PLC lifted its position in New Oriental Education & Technology Group by 11.9% during the third quarter. Janus Henderson Group PLC now owns 30,895 shares of the company's stock valued at $2,342,000 after purchasing an additional 3,287 shares in the last quarter.
New Oriental Education & Technology Group Price Performance
New Oriental Education & Technology Group stock traded down $3.13 during mid-day trading on Friday, reaching $44.66. 3,815,475 shares of the company traded hands, compared to its average volume of 1,887,377. New Oriental Education & Technology Group Inc. has a fifty-two week low of $43.34 and a fifty-two week high of $91.04. The firm's fifty day moving average is $49.36 and its two-hundred day moving average is $58.27. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 19.00 and a beta of 0.37.
Wall Street Analyst Weigh In
A number of research firms have weighed in on EDU. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup lowered 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 note on Friday, January 24th. Macquarie downgraded New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price objective for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $61.20.
Get Our Latest Stock Analysis on New Oriental Education & Technology Group
About New Oriental Education & Technology Group
(
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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