Handelsbanken Fonder AB trimmed its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU – Free Report) by 17.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 65,500 shares of the company’s stock after selling 13,800 shares during the period. Handelsbanken Fonder AB’s holdings in New Oriental Education & Technology Group were worth $4,800,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of EDU. Personal CFO Solutions LLC purchased a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $200,000. AFG Fiduciary Services Limited Partnership purchased a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $218,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $251,000. Caxton Associates LP purchased a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $261,000. Finally, Wrapmanager Inc. purchased a new position in New Oriental Education & Technology Group during the 3rd quarter worth $272,000.
New Oriental Education & Technology Group Trading Up 3.3 %
Shares of EDU opened at $79.66 on Friday. The stock has a market cap of $13.52 billion, a P/E ratio of 42.83 and a beta of 0.49. The company has a 50-day moving average of $89.48 and a two-hundred day moving average of $78.82. New Oriental Education & Technology Group Inc. has a 12-month low of $35.70 and a 12-month high of $98.20.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Citigroup lifted their target price on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.67.
Check Out Our Latest Research Report on New Oriental Education & Technology Group
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.
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