New Oriental Education & Technology Group Target of Unusually Large Options Trading (NYSE:EDU)

New Oriental Education & Technology Group Inc. (NYSE:EDU) was the target of some unusual options trading activity on Monday. Stock traders acquired 15,116 put options on the company. This is an increase of 1,348% compared to the average daily volume of 1,044 put options.

New Oriental Education & Technology Group Trading Down 0.5 %

New Oriental Education & Technology Group stock traded down $0.21 during mid-day trading on Monday, reaching $44.61. The company’s stock had a trading volume of 554,609 shares, compared to its average volume of 1,893,466. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 18.98 and a beta of 0.37. New Oriental Education & Technology Group has a twelve month low of $40.66 and a twelve month high of $91.04. The business has a 50 day moving average price of $48.02 and a 200-day moving average price of $56.13.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of EDU. Aspex Management HK Ltd grew its position in New Oriental Education & Technology Group by 56.8% in 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of New Oriental Education & Technology Group by 61.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock worth $249,952,000 after buying an additional 1,480,391 shares during the period. JPMorgan Chase & Co. boosted its position in shares of New Oriental Education & Technology Group by 175.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock worth $146,123,000 after buying an additional 1,449,979 shares during the period. Norges Bank bought a new position in New Oriental Education & Technology Group in the 4th quarter worth approximately $92,345,000. Finally, FMR LLC increased its position in New Oriental Education & Technology Group by 46.3% in the 4th 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 during the period.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd. China Renaissance lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.