BlackRock Inc. Lowers Position in New Oriental Education & Tech Grp (EDU)

BlackRock Inc. trimmed its holdings in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 1.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,675,845 shares of the company’s stock after selling 110,903 shares during the quarter. BlackRock Inc. owned 4.68% of New Oriental Education & Tech Grp worth $494,079,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of New Oriental Education & Tech Grp by 754.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,999 shares of the company’s stock worth $123,000 after acquiring an additional 4,414 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of New Oriental Education & Tech Grp during the 2nd quarter worth approximately $218,000. 180 Wealth Advisors LLC bought a new position in shares of New Oriental Education & Tech Grp during the 2nd quarter worth approximately $257,000. Oppenheimer Asset Management Inc. grew its stake in shares of New Oriental Education & Tech Grp by 49.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,223 shares of the company’s stock worth $313,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Mitchell Capital Management Co. grew its stake in shares of New Oriental Education & Tech Grp by 44.0% during the 2nd quarter. Mitchell Capital Management Co. now owns 4,197 shares of the company’s stock worth $397,000 after acquiring an additional 1,283 shares in the last quarter. 87.79% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on EDU shares. ValuEngine cut shares of New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Morgan Stanley cut shares of New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 2nd. CLSA raised shares of New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a research note on Monday, October 15th. JPMorgan Chase & Co. decreased their price target on shares of New Oriental Education & Tech Grp from $113.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, October 24th. Finally, Benchmark decreased their price target on shares of New Oriental Education & Tech Grp from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.00.

NYSE EDU opened at $57.50 on Friday. The company has a market capitalization of $8.55 billion, a PE ratio of 30.75, a P/E/G ratio of 0.94 and a beta of 1.33. New Oriental Education & Tech Grp has a 12 month low of $51.21 and a 12 month high of $108.40.

New Oriental Education & Tech Grp (NYSE:EDU) last released its quarterly earnings data on Tuesday, October 23rd. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $859.80 million during the quarter, compared to the consensus estimate of $839.68 million. New Oriental Education & Tech Grp had a return on equity of 15.47% and a net margin of 9.86%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. Analysts forecast that New Oriental Education & Tech Grp will post 1.94 earnings per share for the current year.

New Oriental Education & Tech Grp announced that its board has approved a stock repurchase plan on Tuesday, October 23rd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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New Oriental Education & Tech Grp Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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