Panagora Asset Management Inc. Purchases New Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Panagora Asset Management Inc. purchased a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,275 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EDU. FMR LLC grew its position in shares of New Oriental Education & Technology Group by 92.7% in the 3rd quarter. FMR LLC now owns 6,631,500 shares of the company’s stock valued at $388,274,000 after buying an additional 3,189,254 shares during the last quarter. Schroder Investment Management Group increased its position in shares of New Oriental Education & Technology Group by 22.8% during the third quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock worth $239,730,000 after purchasing an additional 760,062 shares in the last quarter. Keystone Investors PTE Ltd. lifted its holdings in shares of New Oriental Education & Technology Group by 1.1% in the 4th quarter. Keystone Investors PTE Ltd. now owns 1,429,515 shares of the company’s stock valued at $104,755,000 after purchasing an additional 15,842 shares during the last quarter. Sylebra Capital LLC acquired a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter valued at about $63,935,000. Finally, Shah Capital Management purchased a new position in New Oriental Education & Technology Group during the 4th quarter worth approximately $60,659,000.

New Oriental Education & Technology Group Trading Down 1.4 %

New Oriental Education & Technology Group stock opened at $78.12 on Friday. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 42.00 and a beta of 0.52. The stock has a 50 day moving average of $85.23 and a two-hundred day moving average of $81.68. New Oriental Education & Technology Group Inc. has a twelve month low of $35.70 and a twelve month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.09 billion. Equities analysts predict that New Oriental Education & Technology Group Inc. will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EDU. Morgan Stanley boosted their price objective on 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. Citigroup upped their price target on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.67.

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.