Driehaus Capital Management LLC Sells 221,127 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Driehaus Capital Management LLC reduced its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 21.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 819,972 shares of the company's stock after selling 221,127 shares during the quarter. Driehaus Capital Management LLC owned about 0.48% of New Oriental Education & Technology Group worth $63,736,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EDU. Assetmark Inc. raised its holdings in New Oriental Education & Technology Group by 1,642.9% in the 4th quarter. Assetmark Inc. now owns 610 shares of the company's stock valued at $45,000 after acquiring an additional 575 shares during the period. US Bancorp DE grew its position in shares of New Oriental Education & Technology Group by 23.0% during the 4th quarter. US Bancorp DE now owns 11,379 shares of the company's stock worth $834,000 after purchasing an additional 2,126 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of New Oriental Education & Technology Group by 3.4% during the 4th quarter. Hsbc Holdings PLC now owns 96,437 shares of the company's stock worth $7,113,000 after purchasing an additional 3,197 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $733,000. Finally, Carmignac Gestion grew its position in shares of New Oriental Education & Technology Group by 2,689.2% during the 4th quarter. Carmignac Gestion now owns 53,803 shares of the company's stock worth $3,943,000 after purchasing an additional 51,874 shares in the last quarter.

Analysts Set New Price Targets

Separately, Citigroup decreased their target price on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.67.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU traded up $2.45 during trading hours on Friday, hitting $73.47. 3,132,825 shares of the stock were exchanged, compared to its average volume of 1,851,079. The company has a market cap of $12.47 billion, a PE ratio of 39.50 and a beta of 0.46. The company's fifty day simple moving average is $65.78 and its two-hundred day simple moving average is $76.37. New Oriental Education & Technology Group Inc. has a 1-year low of $57.21 and a 1-year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.19). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. As a group, sell-side analysts expect that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The company also recently declared a -- dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.