New Oriental Education & Technology Group (NYSE:EDU) Director Chenggang Zhou Sells 13,052 Shares

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Chenggang Zhou sold 13,052 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $56.32, for a total transaction of $735,088.64. Following the completion of the sale, the director owned 486,946 shares of the company’s stock, valued at approximately $27,424,798.72. This represents a 2.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Chenggang Zhou also recently made the following trade(s):

• On Monday, August 10th, Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84.

New Oriental Education & Technology Group Stock Down 4.5%

Shares of EDU stock opened at $55.46 on Wednesday. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.62 and a beta of 0.24. The company’s 50 day moving average is $49.32 and its 200 day moving average is $53.16. New Oriental Education & Technology Group, Inc. has a 52-week low of $44.25 and a 52-week high of $64.97.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. AIA Group Ltd increased its position in shares of New Oriental Education & Technology Group by 185.2% during the first quarter. AIA Group Ltd now owns 93,342 shares of the company’s stock worth $5,286,000 after purchasing an additional 60,611 shares in the last quarter. Aubrey Capital Management Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the 1st quarter worth $9,888,000. Lazard Asset Management LLC acquired a new stake in shares of New Oriental Education & Technology Group in the 1st quarter worth $18,528,000. Swedbank AB grew its stake in New Oriental Education & Technology Group by 52.0% during the 4th quarter. Swedbank AB now owns 35,651 shares of the company’s stock worth $1,962,000 after buying an additional 12,200 shares during the last quarter. Finally, Amundi grew its stake in New Oriental Education & Technology Group by 14.4% during the 1st quarter. Amundi now owns 507,774 shares of the company’s stock worth $28,755,000 after buying an additional 63,845 shares during the last quarter.

Analysts Set New Price Targets

EDU has been the topic of a number of analyst reports. Wall Street Zen downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. Finally, New Street Research set a $56.50 target price on New Oriental Education & Technology Group in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.54.

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.