Polymer Capital Management HK LTD boosted its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 25.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,000 shares of the company's stock after purchasing an additional 16,900 shares during the quarter. New Oriental Education & Technology Group makes up approximately 0.9% of Polymer Capital Management HK LTD's holdings, making the stock its 26th largest holding. Polymer Capital Management HK LTD's holdings in New Oriental Education & Technology Group were worth $5,327,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in EDU. JPMorgan Chase & Co. increased its stake in shares of New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock worth $62,703,000 after buying an additional 543,810 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter worth about $27,425,000. Green Court Capital Management Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $21,152,000. Panview Capital Ltd bought a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth about $27,358,000. Finally, Erste Asset Management GmbH acquired a new position in New Oriental Education & Technology Group in the fourth quarter worth about $1,264,000.
New Oriental Education & Technology Group Stock Up 0.4 %
EDU stock traded up $0.19 during mid-day trading on Friday, reaching $42.76. The company had a trading volume of 891,098 shares, compared to its average volume of 1,884,389. New Oriental Education & Technology Group Inc. has a one year low of $40.66 and a one year high of $91.04. The stock has a market capitalization of $7.26 billion, a P/E ratio of 18.10 and a beta of 0.37. The stock's 50-day simple moving average is $48.63 and its two-hundred day simple moving average is $57.48.
Analysts Set New Price Targets
EDU has been the topic of several research reports. StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Macquarie cut New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and reduced their price objective for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Morgan Stanley cut 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. Finally, JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $61.20.
View Our Latest Stock Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Profile
(
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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