New Oriental Education & Technology Group, Inc. $EDU Shares Sold by Green Court Capital Management Ltd

Green Court Capital Management Ltd cut its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 49.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 440,565 shares of the company’s stock after selling 427,856 shares during the period. New Oriental Education & Technology Group comprises 10.6% of Green Court Capital Management Ltd’s portfolio, making the stock its 4th largest position. Green Court Capital Management Ltd’s holdings in New Oriental Education & Technology Group were worth $23,381,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Aspex Management HK Ltd increased its position in shares of New Oriental Education & Technology Group by 18.8% in the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after purchasing an additional 1,106,716 shares during the last quarter. Alkeon Capital Management LLC grew its stake in New Oriental Education & Technology Group by 101.3% in the second quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after purchasing an additional 1,104,000 shares in the last quarter. Tiger Pacific Capital LP acquired a new position in New Oriental Education & Technology Group in the second quarter worth about $38,056,000. Norges Bank bought a new stake in New Oriental Education & Technology Group in the second quarter valued at about $33,659,000. Finally, Carrhae Capital LLP acquired a new stake in New Oriental Education & Technology Group during the second quarter valued at approximately $18,717,000.

Analyst Upgrades and Downgrades

EDU has been the subject of several research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $60.00 target price on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 29th. HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. Weiss Ratings restated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Zacks Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, New Street Research set a $68.00 price objective on shares of New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $65.84.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $62.75 on Monday. New Oriental Education & Technology Group, Inc. has a 1 year low of $40.66 and a 1 year high of $64.97. The firm has a market capitalization of $9.92 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.07 and a beta of 0.27. The stock has a fifty day moving average of $56.35 and a two-hundred day moving average of $53.37.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.11. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. Equities research analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current fiscal year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.