New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 12.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,481 shares of the company’s stock after selling 3,751 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in New Oriental Education & Technology Group were worth $2,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position in shares of New Oriental Education & Technology Group by 5.5% in the second quarter. Renaissance Technologies LLC now owns 3,175,554 shares of the company’s stock valued at $246,836,000 after purchasing an additional 164,600 shares during the period. WT Asset Management Ltd lifted its stake in New Oriental Education & Technology Group by 21.4% in the 2nd quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock valued at $134,533,000 after buying an additional 304,712 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in New Oriental Education & Technology Group by 3.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company’s stock worth $115,071,000 after buying an additional 56,100 shares during the last quarter. Farallon Capital Management LLC increased its stake in New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its holdings in shares of New Oriental Education & Technology Group by 16.6% during the second quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock valued at $107,283,000 after acquiring an additional 196,133 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EDU shares. Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Citigroup reduced their target price on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.67.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU opened at $58.13 on Wednesday. New Oriental Education & Technology Group Inc. has a one year low of $56.18 and a one year high of $98.20. The stock has a market cap of $9.86 billion, a PE ratio of 24.84 and a beta of 0.49. The stock has a 50 day moving average price of $66.06 and a 200 day moving average price of $71.88.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the company earned $0.99 EPS. As a group, analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $0.58 dividend. The ex-dividend date was Monday, September 9th.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.