WT Asset Management Ltd Sells 1,074,980 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

WT Asset Management Ltd reduced its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 62.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 655,792 shares of the company's stock after selling 1,074,980 shares during the period. New Oriental Education & Technology Group makes up approximately 9.8% of WT Asset Management Ltd's portfolio, making the stock its 3rd largest position. WT Asset Management Ltd owned about 0.39% of New Oriental Education & Technology Group worth $49,735,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EDU. Renaissance Technologies LLC grew its stake in shares of New Oriental Education & Technology Group by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,175,554 shares of the company's stock worth $246,836,000 after purchasing an additional 164,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in New Oriental Education & Technology Group by 3.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company's stock worth $115,071,000 after buying an additional 56,100 shares in the last quarter. Farallon Capital Management LLC grew its position in New Oriental Education & Technology Group by 139.0% during the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company's stock worth $114,231,000 after buying an additional 854,590 shares during the period. Point72 Hong Kong Ltd increased its holdings in New Oriental Education & Technology Group by 16.6% in the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company's stock valued at $107,283,000 after buying an additional 196,133 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth approximately $103,392,000.

New Oriental Education & Technology Group Stock Up 0.1 %

Shares of EDU stock traded up $0.09 during mid-day trading on Friday, reaching $62.69. The company's stock had a trading volume of 935,558 shares, compared to its average volume of 1,886,826. The company's 50 day simple moving average is $66.43 and its 200-day simple moving average is $73.37. New Oriental Education & Technology Group Inc. has a 12-month low of $58.60 and a 12-month high of $98.20. The firm has a market capitalization of $10.64 billion, a PE ratio of 26.79 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.27. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company's revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.85 EPS for the current fiscal year.

New Oriental Education & Technology Group Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, September 9th.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup dropped their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research report on Thursday, October 17th. Finally, StockNews.com raised New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.67.

New Oriental Education & Technology Group Company Profile

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.