Monolith Management Ltd Invests $15.17 Million in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Monolith Management Ltd bought a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the company’s stock, valued at approximately $15,168,000. New Oriental Education & Technology Group comprises approximately 8.9% of Monolith Management Ltd’s investment portfolio, making the stock its 6th largest holding. Monolith Management Ltd owned approximately 0.12% of New Oriental Education & Technology Group as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup cut their price target on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a research note on Thursday, October 17th.

New Oriental Education & Technology Group Stock Down 0.6 %

EDU opened at $57.36 on Monday. The company has a market cap of $9.73 billion, a PE ratio of 24.51 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a twelve month low of $54.00 and a twelve month high of $98.20. The company has a 50-day moving average price of $65.36 and a 200 day moving average price of $70.46.

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

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.