New Oriental Education & Technology Group Inc. (NYSE:EDU) is WT Asset Management Ltd’s 3rd Largest Position

WT Asset Management Ltd lowered its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 62.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 655,792 shares of the company’s stock after selling 1,074,980 shares during the quarter. New Oriental Education & Technology Group comprises 9.8% of WT Asset Management Ltd’s portfolio, making the stock its 3rd largest position. WT Asset Management Ltd owned approximately 0.39% of New Oriental Education & Technology Group worth $49,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $43,000. Ashton Thomas Private Wealth LLC bought a new stake in New Oriental Education & Technology Group during the second quarter worth about $50,000. Blue Trust Inc. grew its holdings in New Oriental Education & Technology Group by 782.4% in 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 period. Hancock Whitney Corp purchased a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $212,000. Finally, QRG Capital Management Inc. boosted its position in shares of New Oriental Education & Technology Group by 7.4% in the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock worth $285,000 after purchasing an additional 254 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research report on Thursday, October 17th. 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 report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

New Oriental Education & Technology Group Trading Up 0.4 %

Shares of EDU traded up $0.28 during trading hours on Friday, reaching $62.88. 258,230 shares of the company traded hands, compared to its average volume of 1,883,487. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 26.77 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 12-month low of $58.60 and a 12-month high of $98.20. The stock’s fifty day moving average price is $66.55 and its 200 day moving average price is $73.45.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.85 earnings per share for the current year.

New Oriental Education & Technology Group Announces Dividend

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

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.