Point72 Asset Management L.P. Increases Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Point72 Asset Management L.P. increased its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 26.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 686,400 shares of the company’s stock after purchasing an additional 145,200 shares during the period. Point72 Asset Management L.P. owned approximately 0.40% of New Oriental Education & Technology Group worth $53,354,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EDU. Ridgewood Investments LLC bought a new stake in New Oriental Education & Technology Group in the second quarter worth about $43,000. Assetmark Inc. lifted its stake in shares of 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 during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth approximately $50,000. Blue Trust Inc. boosted its holdings in New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock valued at $62,000 after acquiring an additional 712 shares during the period. Finally, Hancock Whitney Corp bought a new position in New Oriental Education & Technology Group in the 2nd quarter valued at $212,000.

Analysts Set New Price Targets

EDU has been the subject of a number of recent analyst reports. HSBC began coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They set a “buy” rating and a $110.00 target price for the company. Citigroup lowered their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.67.

New Oriental Education & Technology Group Trading Down 4.2 %

Shares of New Oriental Education & Technology Group stock opened at $62.26 on Thursday. The stock’s fifty day moving average price is $65.81 and its 200-day moving average price is $76.61. The firm has a market cap of $10.57 billion, a P/E ratio of 33.47 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 12 month low of $54.88 and a 12 month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current year.

New Oriental Education & Technology Group Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, September 9th.

New Oriental Education & Technology Group Profile

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.