Wellington Management Group LLP Sells 8,963 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Wellington Management Group LLP lessened its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 2.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 397,546 shares of the company's stock after selling 8,963 shares during the period. Wellington Management Group LLP owned approximately 0.23% of New Oriental Education & Technology Group worth $30,150,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $43,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $50,000. Blue Trust Inc. increased its stake 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 valued at $62,000 after acquiring an additional 712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after acquiring an additional 206 shares during the period. Finally, Hancock Whitney Corp bought a new position in New Oriental Education & Technology Group during the second quarter valued at about $212,000.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock traded down $1.26 during trading hours on Friday, hitting $61.27. The company had a trading volume of 848,146 shares, compared to its average volume of 1,854,789. 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 capitalization of $10.40 billion, a price-to-earnings ratio of 26.72 and a beta of 0.46. The firm's fifty day moving average is $63.70 and its 200 day moving average is $68.57.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The business's revenue for the quarter was up 30.5% compared to the same quarter last year. On average, sell-side analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EDU shares. StockNews.com upgraded New Oriental Education & Technology Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th.

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.