New Oriental Education & Technology Group, Inc. $EDU Shares Newly Acquired by Summit Global Investments

Summit Global Investments acquired a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,746 shares of the company’s stock, valued at approximately $818,000.

Other institutional investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. grew its holdings in New Oriental Education & Technology Group by 2.9% during the third quarter. TD Waterhouse Canada Inc. now owns 9,189 shares of the company’s stock valued at $510,000 after purchasing an additional 259 shares during the last quarter. Ninety One UK Ltd bought a new position in shares of New Oriental Education & Technology Group in the third quarter valued at approximately $92,628,000. Ninety One North America Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the third quarter worth $21,740,000. WINTON GROUP Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter worth $376,000. Finally, Carmignac Gestion lifted its stake in shares of New Oriental Education & Technology Group by 0.8% in the second quarter. Carmignac Gestion now owns 368,392 shares of the company’s stock worth $16,921,000 after buying an additional 3,006 shares during the last quarter.

Wall Street Analyst Weigh In

EDU has been the subject of several recent analyst reports. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, July 30th. Weiss Ratings downgraded shares of New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Finally, Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.75.

New Oriental Education & Technology Group Price Performance

NYSE:EDU opened at $49.31 on Tuesday. The stock has a market cap of $7.65 billion, a P/E ratio of 15.41, a PEG ratio of 0.54 and a beta of 0.19. New Oriental Education & Technology Group, Inc. has a one year low of $44.25 and a one year high of $64.97. The company has a fifty day moving average price of $56.71 and a 200 day moving average price of $54.20.

Insider Activity

In other news, Director Chenggang Zhou sold 56,948 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the transaction, the director owned 429,998 shares in the company, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 15.50% of the company’s stock.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc (NYSE: EDU) is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.