Quantbot Technologies LP decreased its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 83.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,664 shares of the company's stock after selling 33,791 shares during the quarter. Quantbot Technologies LP's holdings in New Oriental Education & Technology Group were worth $505,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Hancock Whitney Corp boosted its stake in shares of New Oriental Education & Technology Group by 49.4% during the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company's stock worth $309,000 after acquiring an additional 1,348 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in New Oriental Education & Technology Group by 9.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 289,420 shares of the company's stock worth $21,935,000 after purchasing an additional 25,000 shares during the period. Monolith Management Ltd purchased a new position in New Oriental Education & Technology Group during the third quarter valued at $15,168,000. Citigroup Inc. grew its holdings in New Oriental Education & Technology Group by 20.4% during the third quarter. Citigroup Inc. now owns 803,508 shares of the company's stock valued at $60,938,000 after purchasing an additional 136,138 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in New Oriental Education & Technology Group by 12.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company's stock worth $7,573,000 after buying an additional 11,423 shares in the last quarter.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on EDU. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th.
Read Our Latest Stock Report on EDU
New Oriental Education & Technology Group Price Performance
Shares of NYSE:EDU traded up $0.36 during trading on Wednesday, hitting $64.20. 598,472 shares of the company's stock were exchanged, compared to its average volume of 1,843,027. The business's 50-day simple moving average is $65.11 and its 200 day simple moving average is $69.20. New Oriental Education & Technology Group Inc. has a 52-week low of $54.00 and a 52-week high of $98.20. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 27.28 and a beta of 0.46.
New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the business posted $0.99 earnings per share. The company's revenue for the quarter was up 30.5% compared to the same quarter last year. On average, sell-side analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.
New Oriental Education & Technology Group 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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