Invesco Ltd. Buys 76,397 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Invesco Ltd. lifted its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 95.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,284 shares of the company’s stock after acquiring an additional 76,397 shares during the period. Invesco Ltd. owned 0.09% of New Oriental Education & Technology Group worth $10,030,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Westpac Banking Corp bought a new position in New Oriental Education & Technology Group in the fourth quarter worth about $45,000. SBI Securities Co. Ltd. bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $51,000. Empowered Funds LLC purchased a new stake in New Oriental Education & Technology Group during the fourth quarter valued at approximately $138,000. Blue Trust Inc. boosted its stake in New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after acquiring an additional 775 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in New Oriental Education & Technology Group in the fourth quarter worth $224,000.

Analyst Ratings Changes

A number of research firms have recently weighed in on EDU. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.80.

New Oriental Education & Technology Group Stock Down 0.6 %

New Oriental Education & Technology Group stock opened at $44.22 on Wednesday. New Oriental Education & Technology Group Inc. has a 52 week low of $40.66 and a 52 week high of $91.04. The stock has a 50-day moving average price of $47.68 and a 200 day moving average price of $55.80. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 18.82 and a beta of 0.37.

New Oriental Education & Technology Group Company Profile

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, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.