Amundi Reduces Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Amundi trimmed its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,702 shares of the company’s stock after selling 29,669 shares during the period. Amundi’s holdings in New Oriental Education & Technology Group were worth $32,057,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after purchasing an additional 206 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $138,000. Blue Trust Inc. increased its stake in shares of New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after purchasing an additional 775 shares in the last quarter. Finally, RWC Asset Management LLP purchased a new stake in New Oriental Education & Technology Group in the 4th quarter worth approximately $258,000.

Analyst Upgrades and Downgrades

Several research firms have commented on EDU. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Stock Down 3.7 %

Shares of EDU opened at $47.22 on Thursday. The firm has a market cap of $8.01 billion, a PE ratio of 20.09 and a beta of 0.47. The company’s fifty day moving average is $52.79 and its two-hundred day moving average is $59.86. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $95.88.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.