IFM Investors Pty Ltd takes $105,000 position in New Oriental Education & Technology Group Inc. (NYSE:EDU)


IFM Investors Pty Ltd bought a new position in shares of New Oriental Education & Technology Group Inc. (NYSE: EDUGet a rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The company purchased 91,733 shares of the company, valued at approximately $105,000. IFM Investors Pty Ltd owned approximately 0.05% of New Oriental Education & Technology Group when it last filed with the SEC.

Several other institutional investors have also recently increased or reduced their stake in EDU. Bank of America Corp DE increased its stake in shares of New Oriental Education & Technology Group by 37.9% in Q4. Bank of America Corp DE now owns 41,241,407 shares of the company valued at $86,606,000 after purchasing an additional 11,340,959 shares in the last quarter. Shah Capital Management increased its position in New Oriental Education & Technology Group by 170.1% in Q1. Shah Capital Management now owns 22,500,065 shares of the company valued at $25,875,000 after purchasing an additional 14,171,000 shares in the last quarter. Point72 Hong Kong Ltd increased its position in New Oriental Education & Technology Group by 3,555.9% in Q4. Point72 Hong Kong Ltd now owns 18,608,348 shares of the company valued at $39,078,000 after purchasing an additional 18,099,348 shares in the last quarter. Renaissance Technologies LLC increased its stake in New Oriental Education & Technology Group by 725.6% in Q4. Renaissance Technologies LLC now owns 16,243,456 shares of the company valued at $34,111,000 after purchasing an additional 14,276,056 shares during the period. Finally, Discerene Group LP increased its position in New Oriental Education & Technology Group by 26.8% during the 4th quarter. Discerene Group LP now owns 12,794,192 shares of the company worth $26,868,000 after purchasing an additional 2,701,300 shares in the last quarter.

Changes to analyst ratings

EDU has been the subject of a number of recent analyst reports. Bank of America upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and raised its price target for the company from $18.80 to $36.60 in a report research on Friday July 29. Macquarie upgraded New Oriental Education & Technology Group from a “neutral” rating to an “outperforming” rating in a Thursday, July 28 research note. UBS Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a Monday, June 6 research report. CLSA upgraded shares of New Oriental Education & Technology Group from an “underperform” rating to an “outperform” rating in a Wednesday, April 27 research report. Finally, JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating in a Monday, June 13 report. One analyst gave the stock a hold rating and eight gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Oriental Education & Technology Group New Shares Fall 8.6%

Shares of Stock EDUs opened at $24.54 on Tuesday. The stock has a fifty-day moving average price of $21.17 and a 200-day moving average price of $15.60. New Oriental Education & Technology Group Inc. has a 1-year low of $8.40 and a 1-year high of $29.73.

New Eastern Education and Technology Group (NYSE: EDUGet a rating) last announced its quarterly results on Wednesday, July 27. The company reported ($0.94) earnings per share for the quarter, missing analyst consensus estimates of $0.03 per ($0.97). The company posted revenue of $524.00 million in the quarter, versus analyst estimates of $544.92 million. New Oriental Education & Technology Group’s revenue fell 56.7% year-on-year. As a group, stock analysts expect New Oriental Education & Technology Group Inc. to post earnings per share of -5.8 for the current year.

New Oriental Education & Technology Group announced that its board of directors launched a share repurchase plan on Wednesday, July 27 that allows the company to repurchase $0.00 worth of outstanding shares. This redemption authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.

New Company Profile Oriental Education & Technology Group

(Get a rating)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. It works through K-12 AST, test prep, and other courses; online education; and other segments. The company offers test preparation courses for students taking the language and entrance exams used by educational institutions in the United States, the People’s Republic of China and Commonwealth countries; and after-school tutoring classes for middle and high school students to improve their exam results, as well as for children to teach English.

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Institutional ownership by quarter for New Oriental Education & Technology Group (NYSE:EDU)



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