New Oriental Education & Technology Group Inc. (NYSE:EDU) Position Lowered by KEYWISE CAPITAL MANAGEMENT HK Ltd

KEYWISE CAPITAL MANAGEMENT HK Ltd reduced its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 50.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 475,440 shares of the company’s stock after selling 481,450 shares during the period. New Oriental Education & Technology Group comprises approximately 2.5% of KEYWISE CAPITAL MANAGEMENT HK Ltd’s portfolio, making the stock its 9th largest position. KEYWISE CAPITAL MANAGEMENT HK Ltd owned approximately 0.28% of New Oriental Education & Technology Group worth $30,514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EDU. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of New Oriental Education & Technology Group by 1.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock worth $1,377,000 after acquiring an additional 247 shares in the last quarter. Natixis lifted its stake in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after purchasing an additional 248 shares during the last quarter. GeoWealth Management LLC boosted its holdings in New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Westpac Banking Corp purchased a new position in New Oriental Education & Technology Group in the fourth quarter valued at approximately $45,000. Finally, Blue Trust Inc. raised its holdings in New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after purchasing an additional 775 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on EDU. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on 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. StockNews.com raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Finally, Macquarie cut 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and an average price target of $60.80.

New Oriental Education & Technology Group Stock Up 1.6 %

Shares of New Oriental Education & Technology Group stock opened at $47.32 on Friday. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 20.14 and a beta of 0.25. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $89.33. The company’s 50-day simple moving average is $47.00 and its 200-day simple moving average is $53.65.

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

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.