Ninety One UK Ltd Cuts Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Ninety One UK Ltd cut its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 885,702 shares of the company’s stock after selling 271,331 shares during the period. Ninety One UK Ltd’s holdings in New Oriental Education & Technology Group were worth $64,904,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EDU. Eaton Vance Management grew its stake in New Oriental Education & Technology Group by 306.7% in the 1st quarter. Eaton Vance Management now owns 22,543 shares of the company’s stock valued at $26,000 after purchasing an additional 17,000 shares during the period. Sunbelt Securities Inc. bought a new position in New Oriental Education & Technology Group during the first quarter valued at about $46,000. Atlas Capital Advisors LLC purchased a new stake in New Oriental Education & Technology Group during the first quarter worth about $51,000. Royal Bank of Canada raised its position in New Oriental Education & Technology Group by 13.6% in the first quarter. Royal Bank of Canada now owns 44,215 shares of the company’s stock worth $51,000 after acquiring an additional 5,299 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in New Oriental Education & Technology Group in the fourth quarter worth about $59,000.

New Oriental Education & Technology Group Stock Performance

NYSE EDU traded up $2.02 during trading on Thursday, hitting $86.57. 628,309 shares of the company’s stock traded hands, compared to its average volume of 1,648,872. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 47.76 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a 12-month low of $35.70 and a 12-month high of $98.20. The business has a 50 day moving average of $89.84 and a 200-day moving average of $77.89.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The business had revenue of $869.60 million for the quarter, compared to analysts’ expectations of $814.01 million. New Oriental Education & Technology Group had a net margin of 8.54% and a return on equity of 7.97%. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, analysts expect that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current year.

Analysts Set New Price Targets

EDU has been the subject of a number of research reports. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Morgan Stanley increased their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, March 28th.

About New Oriental Education & Technology Group

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.