New Oriental Education & Technology Group (NYSE:EDU) Director Chenggang Zhou Sells 56,948 Shares

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the sale, the director owned 429,998 shares of the company’s stock, valued at $24,436,786.34. This trade represents a 11.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Chenggang Zhou also recently made the following trade(s):

• On Friday, August 7th, Chenggang Zhou sold 13,052 shares of New Oriental Education & Technology Group stock. The stock was sold at an average price of $56.32, for a total transaction of $735,088.64.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $55.46 on Wednesday. New Oriental Education & Technology Group, Inc. has a 1 year low of $44.25 and a 1 year high of $64.97. The firm has a 50 day moving average price of $49.32 and a 200 day moving average price of $53.16. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.62 and a beta of 0.24.

Analyst Ratings Changes

A number of analysts have recently commented on EDU shares. Wall Street Zen downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $67.00 to $65.00 in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of $64.54.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of New Oriental Education & Technology Group by 5,697.3% in the fourth quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock valued at $253,738,000 after purchasing an additional 4,531,370 shares during the period. Discerene Group LP increased its stake in New Oriental Education & Technology Group by 23.7% during the 4th quarter. Discerene Group LP now owns 1,955,430 shares of the company’s stock worth $107,607,000 after buying an additional 374,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in New Oriental Education & Technology Group during the 4th quarter worth $86,526,000. Orbis Allan Gray Ltd lifted its holdings in New Oriental Education & Technology Group by 40.2% in the 4th quarter. Orbis Allan Gray Ltd now owns 837,551 shares of the company’s stock worth $46,090,000 after buying an additional 240,053 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in New Oriental Education & Technology Group by 13,865.2% in the 4th quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock worth $40,846,000 after buying an additional 736,934 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

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.