New Oriental Education & Technology Group Inc. (NYSE:EDU) Stock Holdings Lowered by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd lowered its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,000 shares of the company’s stock after selling 7,500 shares during the period. New Oriental Education & Technology Group comprises about 3.1% of IvyRock Asset Management HK Ltd’s investment portfolio, making the stock its 9th biggest holding. IvyRock Asset Management HK Ltd owned approximately 0.06% of New Oriental Education & Technology Group worth $6,931,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Carrhae Capital LLP raised its holdings in shares of New Oriental Education & Technology Group by 52.4% during the fourth quarter. Carrhae Capital LLP now owns 1,042,689 shares of the company’s stock valued at $66,920,000 after acquiring an additional 358,502 shares in the last quarter. Sei Investments Co. purchased a new stake in New Oriental Education & Technology Group in the fourth quarter worth about $224,000. Corient Private Wealth LLC boosted its position in New Oriental Education & Technology Group by 27.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company’s stock valued at $237,000 after acquiring an additional 792 shares in the last quarter. LBP AM SA purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $3,061,000. Finally, Erste Asset Management GmbH bought a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $1,264,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. China Renaissance cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $50.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $47.49 on Tuesday. New Oriental Education & Technology Group Inc. has a 1 year low of $44.46 and a 1 year high of $92.50. The company has a 50 day simple moving average of $50.57 and a two-hundred day simple moving average of $59.10. The firm has a market cap of $8.06 billion, a P/E ratio of 20.21 and a beta of 0.47.

About New Oriental Education & Technology Group

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.