Concourse Capital Management LLC Acquires New Position in New Oriental Education & Technology Group, Inc. (EDU)

Concourse Capital Management LLC acquired a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,397 shares of the company’s stock, valued at approximately $2,506,000. New Oriental Education & Technology Group comprises approximately 1.2% of Concourse Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Trexquant Investment LP raised its stake in New Oriental Education & Technology Group by 195.9% in the 3rd quarter. Trexquant Investment LP now owns 13,018 shares of the company’s stock valued at $1,149,000 after purchasing an additional 8,618 shares during the last quarter. JPMorgan Chase & Co. raised its stake in New Oriental Education & Technology Group by 769.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,017,034 shares of the company’s stock valued at $176,955,000 after purchasing an additional 1,785,142 shares during the last quarter. Legal & General Group Plc increased its stake in shares of New Oriental Education & Technology Group by 38.5% in the 3rd quarter. Legal & General Group Plc now owns 404,958 shares of the company’s stock worth $35,741,000 after acquiring an additional 112,658 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of New Oriental Education & Technology Group by 4.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 61,100 shares of the company’s stock worth $5,353,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of New Oriental Education & Technology Group by 17.0% in the 3rd quarter. Nordea Investment Management AB now owns 57,939 shares of the company’s stock worth $5,114,000 after acquiring an additional 8,420 shares during the last quarter. 75.64% of the stock is owned by hedge funds and other institutional investors.

Shares of New Oriental Education & Technology Group, Inc. (NYSE EDU) traded down $0.74 during trading hours on Monday, hitting $88.57. The company had a trading volume of 1,075,000 shares, compared to its average volume of 1,350,311. The firm has a market cap of $14,000.00, a P/E ratio of 47.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. New Oriental Education & Technology Group, Inc. has a 1 year low of $37.16 and a 1 year high of $94.63.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.04). The business had revenue of $661.20 million for the quarter, compared to analyst estimates of $643.90 million. New Oriental Education & Technology Group had a return on equity of 17.32% and a net margin of 15.15%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. equities analysts predict that New Oriental Education & Technology Group, Inc. will post 2.03 earnings per share for the current fiscal year.

A number of brokerages have issued reports on EDU. Zacks Investment Research downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Bank of America Corporation raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Monday, September 25th. UBS AG began coverage on New Oriental Education & Technology Group in a research note on Tuesday, August 1st. They issued a “buy” rating and a $96.75 target price for the company. Vetr downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating and set a $94.84 target price for the company. in a research note on Tuesday, October 10th. Finally, J P Morgan Chase & Co downgraded New Oriental Education & Technology Group from a “neutral” rating to an “underweight” rating and set a $82.00 target price for the company. in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. New Oriental Education & Technology Group presently has a consensus rating of “Buy” and an average target price of $89.76.

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New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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