New Oriental Education & Tech Grp (NYSE:EDU) Shares Sold by Eqis Capital Management Inc.

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Eqis Capital Management Inc. cut its stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 22.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,536 shares of the company’s stock after selling 752 shares during the period. Eqis Capital Management Inc.’s holdings in New Oriental Education & Tech Grp were worth $281,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EDU. Dorsey Wright & Associates purchased a new position in shares of New Oriental Education & Tech Grp during the second quarter valued at about $3,444,000. WINTON GROUP Ltd purchased a new position in shares of New Oriental Education & Tech Grp during the second quarter valued at about $293,000. Hexavest Inc. purchased a new position in shares of New Oriental Education & Tech Grp during the second quarter valued at about $1,888,000. Handelsbanken Fonder AB grew its position in shares of New Oriental Education & Tech Grp by 8.0% during the second quarter. Handelsbanken Fonder AB now owns 269,216 shares of the company’s stock valued at $26,001,000 after purchasing an additional 20,000 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its position in shares of New Oriental Education & Tech Grp by 4.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 183,385 shares of the company’s stock valued at $17,712,000 after purchasing an additional 7,489 shares in the last quarter. Hedge funds and other institutional investors own 89.20% of the company’s stock.

A number of research analysts have recently weighed in on EDU shares. Citigroup restated a “buy” rating and set a $130.00 price objective (up previously from $115.00) on shares of New Oriental Education & Tech Grp in a research report on Thursday, October 10th. JPMorgan Chase & Co. upgraded New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $88.00 to $143.00 in a research report on Thursday, October 17th. Zacks Investment Research upgraded New Oriental Education & Tech Grp from a “hold” rating to a “strong-buy” rating and set a $129.00 price objective for the company in a research report on Thursday, October 24th. Benchmark raised their price objective on New Oriental Education & Tech Grp from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, ValuEngine lowered New Oriental Education & Tech Grp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. New Oriental Education & Tech Grp presently has a consensus rating of “Buy” and a consensus price target of $113.87.

EDU opened at $121.47 on Friday. The firm has a market cap of $17.32 billion, a P/E ratio of 58.69, a P/E/G ratio of 1.26 and a beta of 1.49. New Oriental Education & Tech Grp has a 12 month low of $50.30 and a 12 month high of $124.40. The company has a current ratio of 1.50, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $115.93 and a 200 day moving average of $102.45.

New Oriental Education & Tech Grp (NYSE:EDU) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.07. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. New Oriental Education & Tech Grp had a return on equity of 14.22% and a net margin of 9.79%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. On average, research analysts forecast that New Oriental Education & Tech Grp will post 3.01 earnings per share for the current fiscal year.

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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