Norden Group LLC Takes Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Norden Group LLC purchased a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDUFree Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,170 shares of the company’s stock, valued at approximately $796,000.

Several other hedge funds have also recently bought and sold shares of EDU. Assetmark Inc. lifted its stake in New Oriental Education & Technology Group by 1,642.9% during the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after acquiring an additional 575 shares in the last quarter. Jump Financial LLC acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth about $235,000. Panagora Asset Management Inc. acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth about $240,000. QRG Capital Management Inc. acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth about $271,000. Finally, Claro Advisors LLC lifted its stake in New Oriental Education & Technology Group by 5.3% during the 1st quarter. Claro Advisors LLC now owns 3,797 shares of the company’s stock worth $330,000 after acquiring an additional 191 shares in the last quarter.

Wall Street Analysts Forecast Growth

EDU has been the topic of several research reports. HSBC initiated coverage on New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They set a “buy” rating and a $110.00 target price on the stock. Citigroup upped their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Morgan Stanley upped their price target on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.75.

View Our Latest Analysis on New Oriental Education & Technology Group

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $79.56 on Friday. The stock’s 50-day moving average is $79.57 and its two-hundred day moving average is $82.28. New Oriental Education & Technology Group Inc. has a 1-year low of $39.19 and a 1-year high of $98.20. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 42.77 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDUGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 1.86 earnings per share for the current fiscal year.

About New Oriental Education & Technology Group

(Free Report)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.

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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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