Persistent Asset Partners Ltd Makes New Investment in New Oriental Education & Technology Group, Inc. $EDU

Persistent Asset Partners Ltd bought a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,653 shares of the company’s stock, valued at approximately $565,000.

Other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in New Oriental Education & Technology Group during the second quarter worth approximately $37,000. Hantz Financial Services Inc. raised its position in New Oriental Education & Technology Group by 738.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after purchasing an additional 797 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter worth $111,000. Cerity Partners LLC acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter worth $221,000. Finally, KBC Group NV grew its position in New Oriental Education & Technology Group by 11.3% during the 2nd quarter. KBC Group NV now owns 4,474 shares of the company’s stock worth $241,000 after purchasing an additional 454 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EDU. HSBC upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Zacks Research upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Trading Up 0.4%

New Oriental Education & Technology Group stock opened at $59.81 on Friday. The stock has a 50-day moving average price of $57.64 and a 200 day moving average price of $54.15. New Oriental Education & Technology Group, Inc. has a 52 week low of $40.66 and a 52 week high of $64.97. The stock has a market cap of $9.45 billion, a PE ratio of 25.34, a P/E/G ratio of 1.02 and a beta of 0.27.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. On average, equities analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.