First Beijing Investment Ltd Raises Holdings in New Oriental Education & Technology Group, Inc. $EDU

First Beijing Investment Ltd increased its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 31.4% in the 3rd quarter, Holdings Channel reports. The firm owned 9,346,501 shares of the company’s stock after purchasing an additional 2,231,169 shares during the period. New Oriental Education & Technology Group accounts for approximately 19.2% of First Beijing Investment Ltd’s holdings, making the stock its 3rd biggest position. First Beijing Investment Ltd owned approximately 0.05% of New Oriental Education & Technology Group worth $496,019,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EDU. Wellington Management Group LLP raised its position in shares of New Oriental Education & Technology Group by 0.4% in the third quarter. Wellington Management Group LLP now owns 618,307 shares of the company’s stock valued at $32,814,000 after purchasing an additional 2,697 shares during the period. Oasis Management Co Ltd. boosted its holdings in shares of New Oriental Education & Technology Group by 3.3% during the 3rd quarter. Oasis Management Co Ltd. now owns 155,424 shares of the company’s stock worth $8,248,000 after buying an additional 5,000 shares during the period. Serenity Capital Management PTE. LTD. boosted its holdings in shares of New Oriental Education & Technology Group by 167.6% during the 3rd quarter. Serenity Capital Management PTE. LTD. now owns 656,878 shares of the company’s stock worth $34,861,000 after buying an additional 411,380 shares during the period. Barometer Capital Management Inc. grew its stake in New Oriental Education & Technology Group by 77.8% in the 3rd quarter. Barometer Capital Management Inc. now owns 16,000 shares of the company’s stock valued at $849,000 after buying an additional 7,000 shares during the last quarter. Finally, Monolith Management Ltd grew its stake in New Oriental Education & Technology Group by 91.3% in the 3rd quarter. Monolith Management Ltd now owns 506,046 shares of the company’s stock valued at $26,856,000 after buying an additional 241,546 shares during the last quarter.

Analysts Set New Price Targets

EDU has been the subject of a number of research analyst reports. China Renaissance raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Zacks Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. HSBC raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 28th. Finally, New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $65.84.

New Oriental Education & Technology Group Stock Up 0.7%

EDU stock opened at $53.88 on Friday. New Oriental Education & Technology Group, Inc. has a twelve month low of $40.66 and a twelve month high of $64.97. The company has a market cap of $8.51 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 0.91 and a beta of 0.28. The business’s 50-day simple moving average is $57.51 and its 200 day simple moving average is $55.06.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.34 by $0.11. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.