Point72 Hong Kong Ltd Makes New Investment in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Point72 Hong Kong Ltd bought a new stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 344,948 shares of the company’s stock, valued at approximately $22,139,000. New Oriental Education & Technology Group accounts for 1.4% of Point72 Hong Kong Ltd’s holdings, making the stock its 15th largest position. Point72 Hong Kong Ltd owned about 0.20% 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. Connor Clark & Lunn Investment Management Ltd. boosted its position in New Oriental Education & Technology Group by 1.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock valued at $1,377,000 after purchasing an additional 247 shares during the last quarter. Natixis raised its stake in shares of New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after purchasing an additional 248 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of New Oriental Education & Technology Group by 258.5% during the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $45,000. Finally, Blue Trust Inc. grew 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 buying an additional 775 shares in the last quarter.

New Oriental Education & Technology Group Trading Up 2.3%

Shares of New Oriental Education & Technology Group stock opened at $50.05 on Thursday. The firm has a fifty day simple moving average of $47.03 and a 200-day simple moving average of $53.47. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 21.30 and a beta of 0.25. New Oriental Education & Technology Group Inc. has a 1-year low of $40.66 and a 1-year high of $88.53.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. China Renaissance lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective 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 note on Monday, April 21st. Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.80.

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.