Manning & Napier Group LLC Sells 1,410 Shares of New Oriental Education & Tech Grp (NYSE:EDU)

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Manning & Napier Group LLC reduced its position in New Oriental Education & Tech Grp (NYSE:EDU) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,462 shares of the company’s stock after selling 1,410 shares during the quarter. Manning & Napier Group LLC’s holdings in New Oriental Education & Tech Grp were worth $4,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of EDU. Harvest Fund Management Co. Ltd bought a new position in shares of New Oriental Education & Tech Grp in the second quarter worth approximately $176,928,000. Hillhouse Capital Advisors LTD. boosted its position in shares of New Oriental Education & Tech Grp by 60,704.8% in the second quarter. Hillhouse Capital Advisors LTD. now owns 1,702,534 shares of the company’s stock worth $164,431,000 after purchasing an additional 1,699,734 shares during the period. Miura Global Management LLC bought a new position in shares of New Oriental Education & Tech Grp in the first quarter worth approximately $63,063,000. Davis Selected Advisers boosted its position in shares of New Oriental Education & Tech Grp by 6.1% in the second quarter. Davis Selected Advisers now owns 11,119,591 shares of the company’s stock worth $1,073,930,000 after purchasing an additional 640,367 shares during the period. Finally, Broad Peak Investment Management LTD. boosted its position in shares of New Oriental Education & Tech Grp by 9,314.9% in the second quarter. Broad Peak Investment Management LTD. now owns 552,185 shares of the company’s stock worth $53,330,000 after purchasing an additional 546,320 shares during the period. Institutional investors and hedge funds own 86.32% of the company’s stock.

Shares of NYSE:EDU opened at $112.72 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.71 and a current ratio of 1.73. The firm has a fifty day moving average price of $110.56 and a 200 day moving average price of $97.53. New Oriental Education & Tech Grp has a fifty-two week low of $50.30 and a fifty-two week high of $115.93. The firm has a market cap of $15.81 billion, a price-to-earnings ratio of 75.15, a P/E/G ratio of 1.14 and a beta of 1.46.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its earnings results on Tuesday, July 23rd. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.39). New Oriental Education & Tech Grp had a return on equity of 12.97% and a net margin of 7.69%. The company had revenue of $842.90 million for the quarter, compared to the consensus estimate of $833.78 million. During the same quarter in the prior year, the company posted $0.55 EPS. New Oriental Education & Tech Grp’s revenue was up 20.2% compared to the same quarter last year. As a group, research analysts predict that New Oriental Education & Tech Grp will post 2.97 earnings per share for the current year.

A number of research firms have weighed in on EDU. Citigroup reiterated a “buy” rating and issued a $130.00 price target (up from $115.00) on shares of New Oriental Education & Tech Grp in a research report on Thursday. Zacks Investment Research upgraded shares of New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. ValuEngine lowered shares of New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley upped their price target on shares of New Oriental Education & Tech Grp from $95.00 to $106.00 and gave the stock a “positive” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. New Oriental Education & Tech Grp presently has a consensus rating of “Buy” and a consensus price target of $94.40.

About New Oriental Education & Tech Grp

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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