New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Farallon Capital Management LLC

Farallon Capital Management LLC reduced its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,359,150 shares of the company’s stock after selling 174,450 shares during the period. Farallon Capital Management LLC owned about 1.39% of New Oriental Education & Technology Group worth $151,410,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Aspex Management HK Ltd grew its position in New Oriental Education & Technology Group by 56.8% during the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock worth $478,456,000 after purchasing an additional 2,701,566 shares during the period. FMR LLC raised its position in New Oriental Education & Technology Group by 46.3% during the fourth quarter. FMR LLC now owns 4,539,678 shares of the company’s stock valued at $291,357,000 after acquiring an additional 1,437,656 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in New Oriental Education & Technology Group by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock valued at $249,952,000 after acquiring an additional 1,480,391 shares during the period. Schroder Investment Management Group boosted its position in New Oriental Education & Technology Group by 17.2% in the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company’s stock worth $193,815,000 after purchasing an additional 442,656 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in New Oriental Education & Technology Group by 175.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock valued at $146,123,000 after buying an additional 1,449,979 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

EDU opened at $46.63 on Friday. New Oriental Education & Technology Group Inc. has a 1-year low of $40.66 and a 1-year high of $89.33. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 19.84 and a beta of 0.25. The company’s 50 day simple moving average is $46.98 and its two-hundred day simple moving average is $53.84.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. China Renaissance cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, StockNews.com upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.80.

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.