Alkeon Capital Management LLC Sells 745,500 Shares of New Oriental Education & Technology Group, Inc. $EDU

Alkeon Capital Management LLC lessened its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 34.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,447,986 shares of the company’s stock after selling 745,500 shares during the period. Alkeon Capital Management LLC owned approximately 0.84% of New Oriental Education & Technology Group worth $76,845,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. TD Waterhouse Canada Inc. increased its position in New Oriental Education & Technology Group by 2.5% during the third quarter. TD Waterhouse Canada Inc. now owns 9,108 shares of the company’s stock valued at $485,000 after acquiring an additional 218 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of New Oriental Education & Technology Group by 2.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,922 shares of the company’s stock worth $686,000 after purchasing an additional 300 shares during the period. KBC Group NV boosted its stake in shares of New Oriental Education & Technology Group by 11.3% during the 2nd quarter. KBC Group NV now owns 4,474 shares of the company’s stock worth $241,000 after purchasing an additional 454 shares during the period. Fox Run Management L.L.C. grew its holdings in New Oriental Education & Technology Group by 5.7% during the 3rd quarter. Fox Run Management L.L.C. now owns 10,548 shares of the company’s stock valued at $560,000 after purchasing an additional 573 shares during the last quarter. Finally, Vident Advisory LLC grew its holdings in New Oriental Education & Technology Group by 17.3% during the 2nd quarter. Vident Advisory LLC now owns 5,426 shares of the company’s stock valued at $293,000 after purchasing an additional 800 shares during the last quarter.

Wall Street Analyst Weigh In

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

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU opened at $53.88 on Friday. The firm has a market cap of $8.51 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.28. The firm’s 50 day simple moving average is $57.51 and its 200-day simple moving average is $55.12. New Oriental Education & Technology Group, Inc. has a one year low of $40.66 and a one year high of $64.97.

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

About New Oriental Education & Technology Group

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.