Farallon Capital Management LLC Has $29.99 Million Position in New Oriental Education & Technology Group, Inc. $EDU

Farallon Capital Management LLC cut its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 51.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 565,150 shares of the company’s stock after selling 590,000 shares during the quarter. Farallon Capital Management LLC owned approximately 0.33% of New Oriental Education & Technology Group worth $29,993,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in shares of New Oriental Education & Technology Group by 227.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,820 shares of the company’s stock worth $203,000 after purchasing an additional 2,652 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter worth about $494,000. First Beijing Investment Ltd lifted its position in New Oriental Education & Technology Group by 31.4% in the 3rd quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock valued at $496,019,000 after acquiring an additional 2,231,169 shares in the last quarter. Wellington Management Group LLP boosted its stake in New Oriental Education & Technology Group by 0.4% during the 3rd 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 last quarter. Finally, Oasis Management Co Ltd. boosted its stake in 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 valued at $8,248,000 after purchasing an additional 5,000 shares during the last quarter.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock opened at $53.88 on Monday. The firm has a market cap of $8.51 billion, a PE ratio of 22.83, a P/E/G ratio of 0.92 and a beta of 0.28. New Oriental Education & Technology Group, Inc. has a 1 year low of $40.66 and a 1 year high of $64.97. The stock has a fifty day moving average price of $57.51 and a 200-day moving average price of $55.18.

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

Analyst Ratings Changes

EDU has been the subject of a number of recent research reports. Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. China Renaissance raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, New Street Research set a $68.00 price objective on New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $65.84.

About New Oriental Education & Technology Group

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.