New Oriental Education & Technology Group Inc. (NYSE:EDU) Stake Cut by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,909 shares of the company’s stock after selling 1,557 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in New Oriental Education & Technology Group were worth $1,311,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EDU. Eaton Vance Management increased its stake in shares of New Oriental Education & Technology Group by 306.7% in the first quarter. Eaton Vance Management now owns 22,543 shares of the company’s stock worth $26,000 after acquiring an additional 17,000 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in New Oriental Education & Technology Group in the 1st quarter worth about $46,000. Atlas Capital Advisors LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth about $51,000. Royal Bank of Canada lifted its holdings in shares of New Oriental Education & Technology Group by 13.6% during the 1st quarter. Royal Bank of Canada now owns 44,215 shares of the company’s stock valued at $51,000 after buying an additional 5,299 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $59,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EDU shares. StockNews.com lowered 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 lifted their price objective on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU traded down $1.90 during mid-day trading on Friday, reaching $84.99. 701,963 shares of the company traded hands, compared to its average volume of 1,308,323. The company’s fifty day moving average is $89.79 and its two-hundred day moving average is $78.28. New Oriental Education & Technology Group Inc. has a fifty-two week low of $35.70 and a fifty-two week high of $98.20. The stock has a market cap of $14.42 billion, a PE ratio of 46.70 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The firm had revenue of $869.60 million for the quarter, compared to analyst estimates of $814.01 million. New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The firm’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. Research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.02 earnings per share for the current year.

New Oriental Education & Technology Group Profile

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.