New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 175.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,276,762 shares of the company’s stock after purchasing an additional 1,449,979 shares during the quarter. JPMorgan Chase & Co. owned about 1.34% of New Oriental Education & Technology Group worth $146,123,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 worth $126,000 after buying an additional 206 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of New Oriental Education & Technology Group by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock worth $1,377,000 after acquiring an additional 247 shares during the period. Blue Trust Inc. increased its stake in New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares in the last quarter. Corient Private Wealth LLC raised its holdings in 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 worth $237,000 after purchasing an additional 792 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth $51,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EDU shares. China Renaissance downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Citigroup downgraded New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Finally, Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Stock Up 0.4 %

Shares of NYSE:EDU opened at $48.00 on Wednesday. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $91.04. The company has a market cap of $8.15 billion, a PE ratio of 20.43 and a beta of 0.47. The company’s 50-day moving average price is $49.34 and its 200 day moving average price is $58.55.

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.