New Oriental Education & Technology Group Inc. (NYSE:EDU) Stock Holdings Lessened by WT Asset Management Ltd

WT Asset Management Ltd lessened its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 62.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 655,792 shares of the company’s stock after selling 1,074,980 shares during the quarter. New Oriental Education & Technology Group makes up about 9.8% of WT Asset Management Ltd’s portfolio, making the stock its 3rd biggest holding. WT Asset Management Ltd’s holdings in New Oriental Education & Technology Group were worth $49,735,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $43,000. Ashton Thomas Private Wealth LLC purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $50,000. Blue Trust Inc. raised its holdings in shares of New Oriental Education & Technology Group by 782.4% during the second quarter. Blue Trust Inc. now owns 803 shares of the company’s stock valued at $62,000 after acquiring an additional 712 shares during the last quarter. Hancock Whitney Corp purchased a new position in shares of New Oriental Education & Technology Group in the second quarter valued at approximately $212,000. Finally, QRG Capital Management Inc. boosted its stake in shares of New Oriental Education & Technology Group by 7.4% in the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock worth $285,000 after acquiring an additional 254 shares during the last quarter.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU traded up $0.28 during midday trading on Friday, reaching $62.88. 258,230 shares of the company’s stock were exchanged, compared to its average volume of 1,883,487. The firm’s 50 day simple moving average is $66.55 and its two-hundred day simple moving average is $73.45. New Oriental Education & Technology Group Inc. has a fifty-two week low of $58.60 and a fifty-two week high of $98.20. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 26.77 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. Equities research analysts predict that New Oriental Education & Technology Group Inc. will post 2.85 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, September 9th.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. Finally, Citigroup cut their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.67.

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.