New Oriental Education & Technology Group, Inc. $EDU Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 103.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,900 shares of the company’s stock after purchasing an additional 25,885 shares during the quarter. SG Americas Securities LLC’s holdings in New Oriental Education & Technology Group were worth $2,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after buying an additional 512 shares during the period. Atlas Capital Advisors Inc. acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $72,000. Raymond James Financial Inc. purchased a new position in New Oriental Education & Technology Group in the second quarter worth $111,000. Leonteq Securities AG purchased a new position in New Oriental Education & Technology Group in the fourth quarter worth $155,000. Finally, PNC Financial Services Group Inc. lifted its holdings in New Oriental Education & Technology Group by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock valued at $186,000 after acquiring an additional 324 shares during the period.

New Oriental Education & Technology Group Stock Performance

EDU opened at $45.95 on Wednesday. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 0.64 and a beta of 0.17. New Oriental Education & Technology Group, Inc. has a one year low of $41.62 and a one year high of $64.97. The business’s fifty day moving average is $49.07 and its two-hundred day moving average is $54.06.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share for the quarter. The business had revenue of $1.42 billion during the quarter. New Oriental Education & Technology Group had a return on equity of 11.67% and a net margin of 7.82%. On average, analysts predict that New Oriental Education & Technology Group, Inc. will post 3.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EDU shares. Zacks Research cut shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings cut shares of New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. New Street Research set a $65.00 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, June 11th. Finally, The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Moderate Buy” and an average target price of $66.24.

New Oriental Education & Technology Group Company Profile

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.