New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Swedbank AB

Swedbank AB cut its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 58.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,677 shares of the company’s stock after selling 41,400 shares during the period. Swedbank AB’s holdings in New Oriental Education & Technology Group were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in EDU. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 during the last quarter. Blue Trust Inc. lifted its position in New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after buying an additional 775 shares during the last quarter. ABS Direct Equity Fund LLC boosted its stake in New Oriental Education & Technology Group by 17.5% during the third quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock worth $561,000 after buying an additional 1,100 shares during the period. Hancock Whitney Corp increased its position in shares of New Oriental Education & Technology Group by 49.4% during the third quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock valued at $309,000 after acquiring an additional 1,348 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of New Oriental Education & Technology Group by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 30,895 shares of the company’s stock worth $2,342,000 after acquiring an additional 3,287 shares during the last quarter.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock opened at $48.91 on Monday. The stock has a market cap of $8.30 billion, a PE ratio of 20.81 and a beta of 0.44. The stock’s fifty day moving average is $59.20 and its two-hundred day moving average is $63.56. New Oriental Education & Technology Group Inc. has a 1-year low of $44.46 and a 1-year high of $98.20.

Analyst Ratings Changes

A number of analysts have issued reports on the company. 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 research report on Wednesday, January 22nd. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and a consensus target price of $61.20.

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.