Lester Murray Antman dba SimplyRich Buys New Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Lester Murray Antman dba SimplyRich purchased a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,023 shares of the company’s stock, valued at approximately $322,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of New Oriental Education & Technology Group by 155.5% during the 3rd quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after purchasing an additional 1,249 shares in the last quarter. Carrhae Capital LLP increased its holdings in New Oriental Education & Technology Group by 30.5% in the third quarter. Carrhae Capital LLP now owns 684,187 shares of the company’s stock valued at $51,889,000 after buying an additional 159,848 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of New Oriental Education & Technology Group by 341.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,788 shares of the company’s stock worth $2,250,000 after acquiring an additional 23,046 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth about $629,000. Finally, Veritas Asset Management LLP grew its position in shares of New Oriental Education & Technology Group by 22.3% during the 3rd quarter. Veritas Asset Management LLP now owns 26,038 shares of the company’s stock valued at $1,975,000 after acquiring an additional 4,747 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EDU shares. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. 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. Finally, Citigroup lowered 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 research report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $54.61 on Wednesday. The firm has a market capitalization of $9.27 billion, a P/E ratio of 23.24 and a beta of 0.42. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $98.20. The stock’s fifty day moving average is $57.75 and its two-hundred day moving average is $62.36.

New Oriental Education & Technology Group Company Profile

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.