Mirae Asset Global Investments Co. Ltd. boosted its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 341.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,788 shares of the company's stock after purchasing an additional 23,046 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in New Oriental Education & Technology Group were worth $2,250,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC lifted its position in shares of New Oriental Education & Technology Group by 5.7% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company's stock worth $326,000 after purchasing an additional 227 shares during the last quarter. Profund Advisors LLC lifted its position in shares of New Oriental Education & Technology Group by 1.4% during the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company's stock worth $1,344,000 after purchasing an additional 231 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of New Oriental Education & Technology Group by 7.4% during the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock worth $285,000 after purchasing an additional 254 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth $43,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth $50,000.
New Oriental Education & Technology Group Trading Down 0.6 %
NYSE:EDU traded down $0.39 during midday trading on Thursday, hitting $62.60. 1,142,009 shares of the company were exchanged, compared to its average volume of 1,891,218. The company has a market capitalization of $10.62 billion, a PE ratio of 26.62 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a fifty-two week low of $58.60 and a fifty-two week high of $98.20. The company has a fifty day simple moving average of $66.55 and a 200 day simple moving average of $73.45.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business posted $0.99 earnings per share. New Oriental Education & Technology Group's quarterly revenue was up 30.5% on a year-over-year basis. As a group, equities research analysts expect that New Oriental Education & Technology Group Inc. will post 2.85 EPS for the current year.
New Oriental Education & Technology Group Dividend Announcement
The company also recently declared a -- dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, September 9th.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on EDU. Citigroup decreased their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.67.
View Our Latest Research Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Company Profile
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Free Report)
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.
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