Brilliance Asset Management Ltd. Has $22.53 Million Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Brilliance Asset Management Ltd. reduced its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 351,068 shares of the company’s stock after selling 27,062 shares during the quarter. New Oriental Education & Technology Group makes up about 5.1% of Brilliance Asset Management Ltd.’s holdings, making the stock its 6th largest position. Brilliance Asset Management Ltd. owned about 0.21% of New Oriental Education & Technology Group worth $22,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after purchasing an additional 543,810 shares during the period. Massachusetts Financial Services Co. MA increased its position in New Oriental Education & Technology Group by 12.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after buying an additional 11,423 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of New Oriental Education & Technology Group in the third quarter valued at $27,425,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of New Oriental Education & Technology Group by 49.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 180,151 shares of the company’s stock valued at $13,663,000 after buying an additional 59,429 shares during the last quarter. Finally, Green Court Capital Management Ltd purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at $21,152,000.

New Oriental Education & Technology Group Trading Up 1.8 %

New Oriental Education & Technology Group stock opened at $47.29 on Thursday. The firm’s 50 day simple moving average is $50.08 and its 200 day simple moving average is $58.92. New Oriental Education & Technology Group Inc. has a 1-year low of $44.46 and a 1-year high of $91.04. The firm has a market capitalization of $8.02 billion, a PE ratio of 20.12 and a beta of 0.47.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.