New Oriental Education & Technology Group Inc. (NYSE:EDU) Stock Holdings Increased by Shell Asset Management Co.

Shell Asset Management Co. lifted its stake in New Oriental Education & Technology Group Inc. (NYSE:EDUGet Rating) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 438,500 shares of the company’s stock after purchasing an additional 52,600 shares during the quarter. Shell Asset Management Co. owned 0.26% of New Oriental Education & Technology Group worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust bought a new position in New Oriental Education & Technology Group during the first quarter valued at approximately $126,000. Discerene Group LP raised its position in New Oriental Education & Technology Group by 26.8% during the fourth quarter. Discerene Group LP now owns 12,794,192 shares of the company’s stock valued at $26,868,000 after acquiring an additional 2,701,300 shares in the last quarter. Yousif Capital Management LLC bought a new position in New Oriental Education & Technology Group during the fourth quarter valued at approximately $101,000. OneAscent Financial Services LLC acquired a new position in New Oriental Education & Technology Group during the fourth quarter valued at approximately $134,000. Finally, OneAscent Wealth Management LLC acquired a new position in New Oriental Education & Technology Group during the fourth quarter valued at approximately $163,000.

Analysts Set New Price Targets

Several brokerages have commented on EDU. Bank of America upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.80 to $36.60 in a report on Friday, July 29th. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. JPMorgan Chase & Co. upgraded New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating in a report on Monday, June 13th. UBS Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a report on Monday, June 6th. Finally, CICC Research upgraded New Oriental Education & Technology Group from a “market perform” rating to an “outperform” rating in a report on Thursday, July 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

New Oriental Education & Technology Group Trading Down 1.6 %

Shares of New Oriental Education & Technology Group stock opened at $26.61 on Thursday. The company’s fifty day simple moving average is $20.31 and its 200-day simple moving average is $15.43. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 13.01 and a beta of 0.54. New Oriental Education & Technology Group Inc. has a 1 year low of $8.40 and a 1 year high of $29.73.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.97). The firm had revenue of $524.00 million for the quarter, compared to analyst estimates of $544.92 million. The business’s quarterly revenue was down 56.7% on a year-over-year basis. As a group, research analysts forecast that New Oriental Education & Technology Group Inc. will post -5.8 earnings per share for the current fiscal year.

New Oriental Education & Technology Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 27th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

About New Oriental Education & Technology Group

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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 K-12 AST, Test Preparation and Other Courses; Online Education; 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 enhance their exam scores, as well as for children to teach English.

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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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