Monolith Management Ltd Buys 241,546 Shares of New Oriental Education & Technology Group, Inc. $EDU

Monolith Management Ltd increased its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 91.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 506,046 shares of the company’s stock after buying an additional 241,546 shares during the period. New Oriental Education & Technology Group comprises 11.8% of Monolith Management Ltd’s portfolio, making the stock its 4th largest holding. Monolith Management Ltd’s holdings in New Oriental Education & Technology Group were worth $26,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of EDU. Fox Run Management L.L.C. acquired a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $538,000. Campbell & CO Investment Adviser LLC acquired a new position in New Oriental Education & Technology Group during the second quarter worth $621,000. KBC Group NV boosted its position in New Oriental Education & Technology Group by 11.3% during the second quarter. KBC Group NV now owns 4,474 shares of the company’s stock worth $241,000 after purchasing an additional 454 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of New Oriental Education & Technology Group by 94.0% in the 2nd quarter. SG Americas Securities LLC now owns 35,433 shares of the company’s stock worth $1,912,000 after buying an additional 17,168 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 6.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 8,890 shares of the company’s stock worth $476,000 after acquiring an additional 554 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EDU shares. Zacks Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. New Street Research set a $68.00 price objective on New Oriental Education & Technology Group in a research report on Wednesday, January 28th. China Renaissance raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $65.84.

New Oriental Education & Technology Group Trading Down 0.1%

NYSE EDU opened at $53.13 on Wednesday. The stock’s 50 day moving average is $57.64 and its two-hundred day moving average is $55.04. New Oriental Education & Technology Group, Inc. has a 1-year low of $40.66 and a 1-year high of $64.97. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 0.91 and a beta of 0.28.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. On average, analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

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.