Millennium Management LLC Has $22.50 Million Stake in New Oriental Education & Tech Grp (EDU)

Millennium Management LLC reduced its holdings in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 37.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 237,647 shares of the company’s stock after selling 140,802 shares during the quarter. Millennium Management LLC owned approximately 0.17% of New Oriental Education & Tech Grp worth $22,496,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Atlas Capital Advisors LLC acquired a new position in shares of New Oriental Education & Tech Grp during the 2nd quarter worth about $187,000. Wedbush Securities Inc. acquired a new position in shares of New Oriental Education & Tech Grp during the 2nd quarter worth about $218,000. Natixis acquired a new position in shares of New Oriental Education & Tech Grp during the 1st quarter worth about $222,000. Flow Traders U.S. LLC acquired a new position in shares of New Oriental Education & Tech Grp during the 1st quarter worth about $231,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of New Oriental Education & Tech Grp during the 1st quarter worth about $240,000. 88.79% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. 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 objective for the company in a research report 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 report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $105.64.

Shares of NYSE EDU opened at $73.56 on Thursday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 39.37, a PEG ratio of 0.98 and a beta of 1.20. New Oriental Education & Tech Grp has a 52-week low of $67.23 and a 52-week high of $108.40.

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

New Oriental Education & Tech Grp Profile

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.

Further Reading: Leveraged Buyout (LBO) Explained

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

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