Seldon Capital LP Has $4.83 Million Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Seldon Capital LP lessened its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 54.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,695 shares of the company's stock after selling 75,248 shares during the period. New Oriental Education & Technology Group makes up about 2.7% of Seldon Capital LP's portfolio, making the stock its 15th biggest holding. Seldon Capital LP's holdings in New Oriental Education & Technology Group were worth $4,831,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Ridgewood Investments LLC purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter worth $43,000. Ashton Thomas Private Wealth LLC purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter valued at $50,000. Blue Trust Inc. increased its position in New Oriental Education & Technology Group by 782.4% during the second quarter. Blue Trust Inc. now owns 803 shares of the company's stock worth $62,000 after purchasing an additional 712 shares during the last quarter. Hancock Whitney Corp purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at approximately $212,000. Finally, QRG Capital Management Inc. grew its position in New Oriental Education & Technology Group by 7.4% in the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company's stock worth $285,000 after acquiring an additional 254 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EDU. Citigroup dropped their target price on 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. StockNews.com upgraded New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of "Moderate Buy" and an average target price of $99.67.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU traded down $0.35 during trading on Friday, reaching $57.36. 1,329,923 shares of the stock were exchanged, compared to its average volume of 1,428,259. The firm's 50-day moving average price is $65.36 and its 200 day moving average price is $70.46. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 24.51 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.27. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The firm's revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, equities research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

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.