New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Bought by Jacob Asset Management of New York LLC

Jacob Asset Management of New York LLC increased its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 13.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,528 shares of the company’s stock after purchasing an additional 3,468 shares during the quarter. Jacob Asset Management of New York LLC’s holdings in New Oriental Education & Technology Group were worth $1,127,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in New Oriental Education & Technology Group by 124.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,788 shares of the company’s stock worth $1,966,000 after purchasing an additional 27,640 shares during the period. Keystone Investors PTE Ltd. increased its stake in New Oriental Education & Technology Group by 17.8% during the 2nd quarter. Keystone Investors PTE Ltd. now owns 1,728,559 shares of the company’s stock worth $68,261,000 after buying an additional 260,810 shares in the last quarter. Citigroup Inc. increased its stake in New Oriental Education & Technology Group by 216.2% during the 2nd quarter. Citigroup Inc. now owns 27,465 shares of the company’s stock worth $1,085,000 after buying an additional 18,780 shares in the last quarter. Beverly Hills Private Wealth LLC purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $510,000. Finally, Taikang Asset Management Hong Kong Co Ltd purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $24,757,000. Institutional investors and hedge funds own 89.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. TheStreet upgraded New Oriental Education & Technology Group from a “d+” rating to a “c-” rating in a research note on Wednesday, July 26th. Morgan Stanley assumed coverage on New Oriental Education & Technology Group in a research note on Tuesday, November 7th. They set an “overweight” rating and a $81.00 price objective for the company. UBS Group boosted their price objective on New Oriental Education & Technology Group from $65.00 to $71.00 in a research note on Thursday, July 27th. StockNews.com upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, Citigroup upped their price target on New Oriental Education & Technology Group from $42.00 to $66.00 in a research report on Wednesday, September 27th.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock traded down $0.69 during trading hours on Friday, reaching $68.30. The company had a trading volume of 718,635 shares, compared to its average volume of 1,775,521. The stock has a fifty day moving average of $61.96 and a 200-day moving average of $51.37. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 41.65 and a beta of 0.55. New Oriental Education & Technology Group Inc. has a 12-month low of $24.58 and a 12-month high of $70.55.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.33. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.01 billion. New Oriental Education & Technology Group had a return on equity of 7.38% and a net margin of 8.25%. The business’s revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. On average, analysts forecast that New Oriental Education & Technology Group Inc. will post 1.97 EPS 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.