New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Bought by Carrhae Capital LLP

Carrhae Capital LLP lifted its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 52.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,042,689 shares of the company’s stock after acquiring an additional 358,502 shares during the period. New Oriental Education & Technology Group makes up approximately 5.6% of Carrhae Capital LLP’s holdings, making the stock its 6th biggest holding. Carrhae Capital LLP owned 0.61% of New Oriental Education & Technology Group worth $66,920,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in New Oriental Education & Technology Group by 14.2% in the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of New Oriental Education & Technology Group by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock valued at $1,377,000 after buying an additional 247 shares during the period. Blue Trust Inc. increased its position 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. Corient Private Wealth LLC raised its stake 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 worth $237,000 after buying an additional 792 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth $51,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EDU. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $83.00 to $52.00 in a research note 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 company from $83.00 to $50.00 in a research note on Friday, January 24th. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Trading Down 5.4 %

Shares of NYSE EDU opened at $47.49 on Tuesday. The company has a market capitalization of $8.06 billion, a P/E ratio of 20.21 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 12 month low of $44.46 and a 12 month high of $92.50. The stock has a 50 day moving average of $50.57 and a 200-day moving average of $59.10.

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.