OPTIMAS CAPITAL Ltd Buys Shares of 23,800 New Oriental Education & Technology Group Inc. (NYSE:EDU)

OPTIMAS CAPITAL Ltd bought a new stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,800 shares of the company’s stock, valued at approximately $940,000. New Oriental Education & Technology Group accounts for about 1.1% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC grew its position 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 purchasing an additional 21,246,644 shares in the last quarter. FMR LLC grew its position in New Oriental Education & Technology Group by 167,787.3% in the first quarter. FMR LLC now owns 3,624,686 shares of the company’s stock worth $139,949,000 after acquiring an additional 3,622,527 shares in the last quarter. Prudential Financial Inc. purchased a new position in New Oriental Education & Technology Group in the first quarter worth $3,799,000. Verition Fund Management LLC grew its position in New Oriental Education & Technology Group by 158.8% in the first quarter. Verition Fund Management LLC now owns 5,000,000 shares of the company’s stock worth $5,750,000 after acquiring an additional 3,067,800 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in New Oriental Education & Technology Group in the first quarter worth $2,372,000. Institutional investors own 89.51% of the company’s stock.

New Oriental Education & Technology Group Stock Up 0.8 %

Shares of NYSE EDU traded up $0.55 on Tuesday, reaching $71.90. 262,211 shares of the company’s stock traded hands, compared to its average volume of 1,769,153. New Oriental Education & Technology Group Inc. has a 12 month low of $24.58 and a 12 month high of $72.50. The business’s 50 day simple moving average is $62.23 and its two-hundred day simple moving average is $51.66. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 43.84 and a beta of 0.55.

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

Analyst Ratings Changes

EDU has been the subject of several research reports. Morgan Stanley assumed coverage on shares of New Oriental Education & Technology Group in a research report on Tuesday, November 7th. They issued an “overweight” rating and a $81.00 target price for the company. Citigroup upped their price objective on shares of New Oriental Education & Technology Group from $42.00 to $66.00 in a research note on Wednesday, September 27th. StockNews.com raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. TheStreet raised shares of New Oriental Education & Technology Group from a “d+” rating to a “c-” rating in a research note on Wednesday, July 26th. Finally, UBS Group upped their price objective on shares of New Oriental Education & Technology Group from $65.00 to $71.00 in a research note on Thursday, July 27th.

New Oriental Education & Technology Group Company 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.