New Oriental Education & Technology Group (NYSE:EDU) Director Sells $3,236,354.84 in Stock

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the sale, the director owned 429,998 shares of the company’s stock, valued at $24,436,786.34. This represents a 11.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chenggang Zhou also recently made the following trade(s):

• On Friday, August 7th, Chenggang Zhou sold 13,052 shares of New Oriental Education & Technology Group stock. The shares were sold at an average price of $56.32, for a total transaction of $735,088.64.

New Oriental Education & Technology Group Stock Performance

EDU opened at $52.30 on Friday. New Oriental Education & Technology Group, Inc. has a one year low of $44.25 and a one year high of $64.97. The stock has a market capitalization of $8.27 billion, a PE ratio of 17.67, a P/E/G ratio of 0.57 and a beta of 0.24. The business’s 50 day moving average price is $49.57 and its 200 day moving average price is $53.10.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. New Street Research set a $56.50 target price on New Oriental Education & Technology Group in a research report on Thursday, July 30th. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. Finally, Wall Street Zen lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.54.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several institutional investors have recently modified their holdings of the business. AIA Group Ltd raised its position in New Oriental Education & Technology Group by 185.2% in the 1st quarter. AIA Group Ltd now owns 93,342 shares of the company’s stock valued at $5,286,000 after purchasing an additional 60,611 shares in the last quarter. Aubrey Capital Management Ltd acquired a new position in shares of New Oriental Education & Technology Group during the first quarter worth about $9,888,000. Lazard Asset Management LLC purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter worth approximately $18,528,000. Swedbank AB increased its stake in shares of New Oriental Education & Technology Group by 52.0% during the fourth quarter. Swedbank AB now owns 35,651 shares of the company’s stock worth $1,962,000 after buying an additional 12,200 shares during the period. Finally, Amundi raised its holdings in New Oriental Education & Technology Group by 14.4% in the first quarter. Amundi now owns 507,774 shares of the company’s stock valued at $28,755,000 after acquiring an additional 63,845 shares in the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.