10,554 Shares in New Oriental Education & Technology Group, Inc. $EDU Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC purchased a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,554 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EDU. PNC Financial Services Group Inc. raised its holdings in shares of New Oriental Education & Technology Group by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock worth $186,000 after acquiring an additional 324 shares during the period. Vident Advisory LLC raised its stake in shares of New Oriental Education & Technology Group by 8.2% in the 4th quarter. Vident Advisory LLC now owns 5,939 shares of the company’s stock valued at $327,000 after purchasing an additional 449 shares during the period. Ieq Capital LLC raised its stake in shares of New Oriental Education & Technology Group by 11.5% in the 4th quarter. Ieq Capital LLC now owns 4,760 shares of the company’s stock valued at $262,000 after purchasing an additional 492 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after purchasing an additional 512 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in shares of New Oriental Education & Technology Group by 3.9% in the fourth quarter. Profund Advisors LLC now owns 19,945 shares of the company’s stock valued at $1,098,000 after purchasing an additional 750 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock opened at $47.93 on Wednesday. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 0.68 and a beta of 0.19. The firm has a 50-day moving average of $48.38 and a 200-day moving average of $53.82. New Oriental Education & Technology Group, Inc. has a one year low of $41.62 and a one year high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $1.42 billion for the quarter. New Oriental Education & Technology Group had a return on equity of 11.67% and a net margin of 7.82%. As a group, sell-side analysts expect that New Oriental Education & Technology Group, Inc. will post 3.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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