California Public Employees Retirement System Cuts Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

California Public Employees Retirement System lowered its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDUGet Rating) by 90.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 251,997 shares of the company’s stock after selling 2,466,806 shares during the quarter. California Public Employees Retirement System’s holdings in New Oriental Education & Technology Group were worth $5,131,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its position in New Oriental Education & Technology Group by 2.4% during the first quarter. BlackRock Inc. now owns 64,329,110 shares of the company’s stock valued at $73,977,000 after purchasing an additional 1,492,990 shares in the last quarter. Carmignac Gestion increased its position in shares of New Oriental Education & Technology Group by 187.6% during the 1st quarter. Carmignac Gestion now owns 43,110,546 shares of the company’s stock valued at $49,647,000 after purchasing an additional 28,122,503 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of New Oriental Education & Technology Group by 130.8% during the 1st quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock valued at $43,114,000 after buying an additional 21,246,644 shares in the last quarter. Discerene Group LP lifted its position in New Oriental Education & Technology Group by 3.2% in the 1st quarter. Discerene Group LP now owns 13,207,692 shares of the company’s stock worth $15,189,000 after buying an additional 413,500 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in New Oriental Education & Technology Group by 11.4% in the first quarter. Wellington Management Group LLP now owns 9,078,131 shares of the company’s stock worth $10,441,000 after buying an additional 932,613 shares in the last quarter. 45.81% of the stock is owned by institutional investors.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $26.01 on Friday. The firm has a fifty day simple moving average of $24.90 and a two-hundred day simple moving average of $22.32. New Oriental Education & Technology Group Inc. has a twelve month low of $8.40 and a twelve month high of $29.89.

New Oriental Education & Technology Group (NYSE:EDUGet Rating) last posted its earnings results on Wednesday, October 26th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. The firm had revenue of $744.80 million for the quarter, compared to analysts’ expectations of $689.08 million. The company’s quarterly revenue was down 43.1% compared to the same quarter last year. On average, equities research analysts predict that New Oriental Education & Technology Group Inc. will post 0.48 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TheStreet downgraded shares of New Oriental Education & Technology Group from a “c-” rating to a “d” rating in a research note on Monday. StockNews.com assumed coverage on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Macquarie upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 28th. Finally, Bank of America upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.80 to $36.60 in a report on Friday, July 29th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.60.

New Oriental Education & Technology Group Profile

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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. The company operates through Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.

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

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