Monolith Management Ltd Has $10.78 Million Position in New Oriental Education & Technology Group, Inc. $EDU

Monolith Management Ltd reduced its position in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 61.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,921 shares of the company’s stock after selling 310,125 shares during the period. New Oriental Education & Technology Group makes up about 4.0% of Monolith Management Ltd’s investment portfolio, making the stock its 8th biggest position. Monolith Management Ltd owned approximately 0.12% of New Oriental Education & Technology Group worth $10,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after buying an additional 512 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth $72,000. Raymond James Financial Inc. purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth $111,000. Leonteq Securities AG purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth $155,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of New Oriental Education & Technology Group by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock worth $186,000 after buying an additional 324 shares during the last quarter.

New Oriental Education & Technology Group Trading Down 0.9%

Shares of EDU stock opened at $46.64 on Wednesday. New Oriental Education & Technology Group, Inc. has a 12-month low of $41.62 and a 12-month high of $64.97. The stock’s 50-day moving average price is $51.39 and its 200-day moving average price is $54.55. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.65 and a beta of 0.17.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $0.10 earnings per share for the quarter. New Oriental Education & Technology Group had a return on equity of 11.67% and a net margin of 7.82%.The company had revenue of $1.42 billion for the quarter. As a group, research analysts predict that New Oriental Education & Technology Group, Inc. will post 3.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. New Street Research set a $65.00 target price on New Oriental Education & Technology Group in a research report on Thursday, June 11th. Weiss Ratings downgraded New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $67.00 to $65.00 in a research report on Thursday, June 11th. Finally, Zacks Research downgraded New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.24.

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.