Panview Capital Ltd Takes $27.36 Million Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Panview Capital Ltd acquired a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 426,272 shares of the company’s stock, valued at approximately $27,358,000. New Oriental Education & Technology Group accounts for about 5.8% of Panview Capital Ltd’s holdings, making the stock its 6th biggest position. Panview Capital Ltd owned 0.25% of New Oriental Education & Technology Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after purchasing an additional 206 shares in the last quarter. Blue Trust Inc. increased its stake in shares of New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares in the last quarter. ABS Direct Equity Fund LLC increased its stake in shares of New Oriental Education & Technology Group by 17.5% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock valued at $561,000 after purchasing an additional 1,100 shares in the last quarter. Hancock Whitney Corp increased its stake in New Oriental Education & Technology Group by 49.4% during the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock worth $309,000 after buying an additional 1,348 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in New Oriental Education & Technology Group by 5.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,284 shares of the company’s stock worth $2,003,000 after buying an additional 1,496 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

EDU stock opened at $52.23 on Friday. The business has a 50 day simple moving average of $56.19 and a 200-day simple moving average of $61.69. The firm has a market capitalization of $8.86 billion, a PE ratio of 22.22 and a beta of 0.42. New Oriental Education & Technology Group Inc. has a 1 year low of $44.46 and a 1 year high of $98.20.

Analyst Upgrades and Downgrades

Several research firms have commented on EDU. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Finally, Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.