Serenity Capital Management PTE. LTD. acquired a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 33,382 shares of the company's stock, valued at approximately $2,142,000. New Oriental Education & Technology Group accounts for about 1.4% of Serenity Capital Management PTE. LTD.'s portfolio, making the stock its 4th biggest position.
A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock worth $62,703,000 after acquiring an additional 543,810 shares during the period. Ariose Capital Management Ltd purchased a new stake in New Oriental Education & Technology Group in the 4th quarter valued at approximately $5,955,000. SG Americas Securities LLC acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth approximately $272,000. Blue Trust Inc. raised its stake in shares of New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock worth $181,000 after buying an additional 775 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of New Oriental Education & Technology Group by 5.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,284 shares of the company's stock valued at $2,003,000 after buying an additional 1,496 shares during the period.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. StockNews.com lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price target for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $85.00 to $50.00 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. Finally, Citigroup cut shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $83.00 to $50.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.20.
View Our Latest Report on EDU
New Oriental Education & Technology Group Stock Up 1.5 %
Shares of New Oriental Education & Technology Group stock traded up $0.65 on Friday, hitting $44.84. The company's stock had a trading volume of 779,075 shares, compared to its average volume of 1,898,779. The firm has a fifty day moving average price of $48.02 and a 200-day moving average price of $56.29. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $91.04. The company has a market capitalization of $7.61 billion, a P/E ratio of 19.08 and a beta of 0.37.
New Oriental Education & Technology Group Profile
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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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