Alkeon Capital Management LLC Raises Holdings in New Oriental Education & Technology Group, Inc. $EDU

Alkeon Capital Management LLC lifted its position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 101.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,193,486 shares of the company’s stock after purchasing an additional 1,104,000 shares during the period. Alkeon Capital Management LLC’s holdings in New Oriental Education & Technology Group were worth $118,339,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Siren L.L.C. raised its position in New Oriental Education & Technology Group by 16.1% in the 1st quarter. Siren L.L.C. now owns 79,500 shares of the company’s stock valued at $3,801,000 after purchasing an additional 11,000 shares during the last quarter. Quantbot Technologies LP purchased a new position in New Oriental Education & Technology Group during the 1st quarter worth $1,256,000. Jump Financial LLC acquired a new position in New Oriental Education & Technology Group in the first quarter valued at $4,972,000. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of New Oriental Education & Technology Group by 13.7% in the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,396,039 shares of the company’s stock valued at $66,745,000 after buying an additional 167,721 shares during the last quarter. Finally, Yiheng Capital Management L.P. increased its position in New Oriental Education & Technology Group by 15.4% in the 1st quarter. Yiheng Capital Management L.P. now owns 598,080 shares of the company’s stock valued at $28,594,000 after acquiring an additional 79,766 shares during the period.

New Oriental Education & Technology Group Stock Up 2.2%

New Oriental Education & Technology Group stock opened at $53.93 on Friday. The firm has a market capitalization of $8.52 billion, a PE ratio of 23.76, a P/E/G ratio of 1.24 and a beta of 0.32. New Oriental Education & Technology Group, Inc. has a 52 week low of $40.66 and a 52 week high of $64.38. The firm’s 50-day simple moving average is $54.70 and its 200 day simple moving average is $51.19.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently declared a special dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 18th were given a $0.60 dividend. The ex-dividend date was Tuesday, November 18th. New Oriental Education & Technology Group’s dividend payout ratio is currently 25.55%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EDU. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 1st. Zacks Research lowered shares of New Oriental Education & Technology Group from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Bank of America lifted their price objective on New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a report on Monday, September 29th. JPMorgan Chase & Co. raised their price target on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Citigroup dropped their price objective on New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.53.

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.