Ninety One North America Inc. Sells 129,205 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Ninety One North America Inc. lessened its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 24.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 403,200 shares of the company’s stock after selling 129,205 shares during the period. New Oriental Education & Technology Group accounts for about 1.4% of Ninety One North America Inc.’s portfolio, making the stock its 26th largest position. Ninety One North America Inc. owned 0.24% of New Oriental Education & Technology Group worth $29,546,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in New Oriental Education & Technology Group by 130.8% in the first quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock valued at $43,114,000 after buying an additional 21,246,644 shares during the period. Prudential Financial Inc. acquired a new stake in shares of New Oriental Education & Technology Group during the first quarter worth about $3,799,000. FMR LLC raised its position in shares of New Oriental Education & Technology Group by 92.7% during the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock worth $388,274,000 after purchasing an additional 3,189,254 shares during the period. Verition Fund Management LLC raised its position in shares of New Oriental Education & Technology Group by 158.8% during the first quarter. Verition Fund Management LLC now owns 5,000,000 shares of the company’s stock worth $5,750,000 after purchasing an additional 3,067,800 shares during the period. Finally, Ergoteles LLC acquired a new stake in shares of New Oriental Education & Technology Group during the first quarter worth about $2,372,000.

New Oriental Education & Technology Group Stock Up 2.8 %

Shares of NYSE:EDU traded up $2.37 during mid-day trading on Thursday, reaching $86.92. 562,751 shares of the stock were exchanged, compared to its average volume of 1,648,139. The company has a market cap of $14.75 billion, a P/E ratio of 46.46 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a one year low of $35.70 and a one year high of $98.20. The stock’s 50 day simple moving average is $89.84 and its 200-day simple moving average is $77.89.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The company had revenue of $869.60 million during the quarter, compared to the consensus estimate of $814.01 million. New Oriental Education & Technology Group had a net margin of 8.54% and a return on equity of 7.97%. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. Analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on EDU. Morgan Stanley raised their price target on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th.

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.