9,170 Shares in New Oriental Education & Technology Group Inc. (NYSE:EDU) Bought by Norden Group LLC

Norden Group LLC acquired a new position in New Oriental Education & Technology Group Inc. (NYSE:EDUFree Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,170 shares of the company’s stock, valued at approximately $796,000.

A number of other hedge funds have also recently added to or reduced their stakes in EDU. Sylebra Capital LLC acquired a new position in New Oriental Education & Technology Group in the third quarter worth $63,935,000. Dfpg Investments LLC boosted its holdings in New Oriental Education & Technology Group by 7.3% in the fourth quarter. Dfpg Investments LLC now owns 11,674 shares of the company’s stock worth $852,000 after purchasing an additional 793 shares during the period. Ariose Capital Management Ltd acquired a new position in New Oriental Education & Technology Group in the fourth quarter worth $30,631,000. Matthews International Capital Management LLC acquired a new position in New Oriental Education & Technology Group in the fourth quarter worth $3,447,000. Finally, Ritholtz Wealth Management boosted its holdings in shares of New Oriental Education & Technology Group by 12.8% during the fourth quarter. Ritholtz Wealth Management now owns 15,221 shares of the company’s stock valued at $1,115,000 after acquiring an additional 1,729 shares during the period.

New Oriental Education & Technology Group Stock Down 3.4 %

Shares of NYSE EDU opened at $79.56 on Monday. New Oriental Education & Technology Group Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $98.20. The firm’s 50-day simple moving average is $79.57 and its 200 day simple moving average is $82.35. The stock has a market cap of $13.50 billion, a P/E ratio of 42.77 and a beta of 0.44.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, April 25th. HSBC assumed coverage on shares of New Oriental Education & Technology Group in a report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $100.75.

View Our Latest Research Report on EDU

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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