New Oriental Education & Technology Group, Inc. $EDU Stock Position Lowered by Aspex Management HK Ltd

Aspex Management HK Ltd cut its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 15.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,879,363 shares of the company’s stock after selling 1,101,825 shares during the period. New Oriental Education & Technology Group accounts for about 6.6% of Aspex Management HK Ltd’s portfolio, making the stock its 5th largest holding. Aspex Management HK Ltd owned approximately 3.43% of New Oriental Education & Technology Group worth $312,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EDU. Alkeon Capital Management LLC raised its holdings in New Oriental Education & Technology Group by 101.3% in the second quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after purchasing an additional 1,104,000 shares during the period. Tiger Pacific Capital LP acquired a new stake in shares of New Oriental Education & Technology Group during the second quarter worth $38,056,000. Norges Bank acquired a new stake in shares of New Oriental Education & Technology Group during the second quarter worth $33,659,000. Serenity Capital Management PTE. LTD. lifted its position in New Oriental Education & Technology Group by 167.6% in the 3rd quarter. Serenity Capital Management PTE. LTD. now owns 656,878 shares of the company’s stock valued at $34,861,000 after acquiring an additional 411,380 shares in the last quarter. Finally, Monolith Management Ltd lifted its position in New Oriental Education & Technology Group by 91.3% in the 3rd quarter. Monolith Management Ltd now owns 506,046 shares of the company’s stock valued at $26,856,000 after acquiring an additional 241,546 shares in the last quarter.

Analysts Set New Price Targets

EDU has been the topic of a number of recent research reports. Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Finally, New Street Research set a $68.00 price target on shares of New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Stock Up 0.7%

NYSE:EDU opened at $53.88 on Friday. New Oriental Education & Technology Group, Inc. has a twelve month low of $40.66 and a twelve month high of $64.97. The stock’s 50-day simple moving average is $57.51 and its 200 day simple moving average is $55.06. The firm has a market capitalization of $8.51 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 0.91 and a beta of 0.28.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, analysts anticipate that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.