StockNews.com Upgrades New Oriental Education & Technology Group (NYSE:EDU) to “Buy”

New Oriental Education & Technology Group (NYSE:EDU – Get Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

New Oriental Education & Technology Group Stock Down 5.1 %

Shares of New Oriental Education & Technology Group stock opened at $37.77 on Thursday. The stock has a market cap of $6.41 billion, a PE ratio of 50.36 and a beta of 0.60. The business has a fifty day simple moving average of $39.85 and a 200-day simple moving average of $36.88. New Oriental Education & Technology Group has a 12 month low of $9.90 and a 12 month high of $46.74.

Institutional Trading of New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently made changes to their positions in EDU. JPMorgan Chase & Co. increased its holdings in New Oriental Education & Technology Group by 22.4% during the 1st quarter. JPMorgan Chase & Co. now owns 3,182,422 shares of the company’s stock worth $3,659,000 after purchasing an additional 582,351 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of New Oriental Education & Technology Group by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 1,739,685 shares of the company’s stock worth $2,000,000 after acquiring an additional 158,968 shares during the period. American Century Companies Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 1.0% during the first quarter. American Century Companies Inc. now owns 483,904 shares of the company’s stock worth $556,000 after acquiring an additional 4,888 shares during the period. Acadian Asset Management LLC raised its position in shares of New Oriental Education & Technology Group by 186.1% in the first quarter. Acadian Asset Management LLC now owns 193,107 shares of the company’s stock valued at $221,000 after buying an additional 125,599 shares in the last quarter. Finally, BlackRock Inc. raised its position in New Oriental Education & Technology Group by 2.4% during the first quarter. BlackRock Inc. now owns 64,329,110 shares of the company’s stock valued at $73,977,000 after purchasing an additional 1,492,990 shares in the last quarter. Institutional investors own 67.55% of the company’s stock.

New Oriental Education & Technology Group Company Profile

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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; Online Education and Other Services; Overseas Study Consulting Services; and Others.