WT Asset Management Ltd lifted its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU – Free Report) by 21.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,730,772 shares of the company’s stock after purchasing an additional 304,712 shares during the period. New Oriental Education & Technology Group comprises 13.1% of WT Asset Management Ltd’s investment portfolio, making the stock its biggest position. WT Asset Management Ltd’s holdings in New Oriental Education & Technology Group were worth $134,533,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the company. Assetmark Inc. grew its position in New Oriental Education & Technology Group by 1,642.9% in the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after acquiring an additional 575 shares during the period. Blue Trust Inc. raised its stake in shares of New Oriental Education & Technology Group by 782.4% during the second quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after purchasing an additional 712 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in New Oriental Education & Technology Group in the 1st quarter valued at approximately $231,000. Jump Financial LLC purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $235,000. Finally, Panagora Asset Management Inc. acquired a new stake in New Oriental Education & Technology Group in the fourth quarter valued at $240,000.
New Oriental Education & Technology Group Trading Down 2.2 %
EDU traded down $1.49 during trading on Friday, reaching $67.29. 1,215,174 shares of the company were exchanged, compared to its average volume of 1,792,835. The firm has a 50 day moving average of $72.78 and a 200 day moving average of $81.32. The stock has a market cap of $11.42 billion, a P/E ratio of 36.18 and a beta of 0.44. New Oriental Education & Technology Group Inc. has a 52 week low of $52.89 and a 52 week high of $98.20.
New Oriental Education & Technology Group Announces Dividend
The firm also recently announced a — dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 9th.
Analysts Set New Price Targets
EDU has been the subject of a number of recent research reports. HSBC assumed coverage on New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price objective for the company. Citigroup lowered 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 report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.67.
Get Our Latest Stock Report on New Oriental Education & Technology Group
About New Oriental Education & Technology Group
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.
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