Investment House LLC Invests $531,000 in New Oriental Education & Technology Group, Inc. $EDU

Investment House LLC purchased a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $531,000.

A number of other large investors have also made changes to their positions in EDU. Aspex Management HK Ltd lifted its holdings in New Oriental Education & Technology Group by 18.8% during the second quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after acquiring an additional 1,106,716 shares in the last quarter. Alkeon Capital Management LLC raised its position in shares of New Oriental Education & Technology Group by 101.3% during 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 about $38,056,000. Norges Bank bought a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $33,659,000. Finally, Carrhae Capital LLP acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $18,717,000.

New Oriental Education & Technology Group Trading Up 2.1%

Shares of EDU opened at $57.61 on Monday. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.36 and a beta of 0.29. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $61.56. The firm has a fifty day simple moving average of $54.61 and a 200 day simple moving average of $52.64.

New Oriental Education & Technology Group Announces Dividend

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

Analysts Set New Price Targets

EDU has been the topic of several research analyst reports. Bank of America raised their target price on shares of New Oriental Education & Technology Group from $56.20 to $58.20 and gave the stock a “buy” rating in a report on Monday, September 29th. The Goldman Sachs Group restated a “neutral” rating and set a $60.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Zacks Research raised shares of New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price target on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.30.

New Oriental Education & Technology Group Company 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.