Andra AP fonden Acquires New Stake in New Oriental Education & Tech Grp (EDU)

Andra AP fonden acquired a new stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) during the second quarter, Holdings Channel reports. The firm acquired 47,400 shares of the company’s stock, valued at approximately $4,487,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of New Oriental Education & Tech Grp by 754.5% during the second quarter. Advisors Asset Management Inc. now owns 4,999 shares of the company’s stock valued at $123,000 after purchasing an additional 4,414 shares during the period. Atlas Capital Advisors LLC bought a new stake in shares of New Oriental Education & Tech Grp during the second quarter valued at approximately $187,000. Wedbush Securities Inc. bought a new stake in shares of New Oriental Education & Tech Grp during the second quarter valued at approximately $218,000. Natixis bought a new stake in shares of New Oriental Education & Tech Grp during the first quarter valued at approximately $222,000. Finally, Flow Traders U.S. LLC bought a new stake in shares of New Oriental Education & Tech Grp during the first quarter valued at approximately $231,000. Institutional investors and hedge funds own 88.79% of the company’s stock.

Shares of EDU stock opened at $73.56 on Thursday. The firm has a market capitalization of $10.41 billion, a P/E ratio of 39.55, a P/E/G ratio of 0.98 and a beta of 1.20. New Oriental Education & Tech Grp has a one year low of $67.23 and a one year high of $108.40.

New Oriental Education & Tech Grp (NYSE:EDU) last announced its quarterly earnings results on Tuesday, July 24th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $701.00 million for the quarter, compared to analyst estimates of $672.44 million. New Oriental Education & Tech Grp had a return on equity of 14.79% and a net margin of 12.10%. New Oriental Education & Tech Grp’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. equities analysts forecast that New Oriental Education & Tech Grp will post 2.58 earnings per share for the current year.

A number of analysts have recently issued reports on EDU shares. ValuEngine cut New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. Zacks Investment Research raised New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Tuesday, June 26th. Finally, JPMorgan Chase & Co. raised New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 26th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. New Oriental Education & Tech Grp currently has a consensus rating of “Hold” and a consensus target price of $105.64.

About New Oriental Education & Tech Grp

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through 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 segments.

See Also: Short Selling

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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