Harvest Fund Management Co. Ltd Sells 85,624 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Harvest Fund Management Co. Ltd cut its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 29.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 203,796 shares of the company’s stock after selling 85,624 shares during the quarter. New Oriental Education & Technology Group makes up approximately 0.6% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 28th largest holding. Harvest Fund Management Co. Ltd owned about 0.12% of New Oriental Education & Technology Group worth $13,059,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EDU. SBI Securities Co. Ltd. bought a new position in New Oriental Education & Technology Group in the fourth quarter worth about $51,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at about $138,000. Blue Trust Inc. increased its holdings in shares of New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after acquiring an additional 775 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of New Oriental Education & Technology Group by 27.4% during the fourth quarter. Corient Private Wealth LLC now owns 3,685 shares of the company’s stock valued at $237,000 after acquiring an additional 792 shares in the last quarter.

New Oriental Education & Technology Group Trading Up 3.5 %

EDU opened at $52.59 on Wednesday. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $95.88. The firm has a market capitalization of $8.93 billion, a PE ratio of 22.38 and a beta of 0.47. The firm has a 50 day moving average of $51.49 and a two-hundred day moving average of $59.39.

Wall Street Analysts Forecast Growth

EDU has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $83.00 to $50.00 in a report on Friday, January 24th. Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Finally, StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Profile

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.