Seldon Capital LP Lowers Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Seldon Capital LP reduced its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 54.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 63,695 shares of the company’s stock after selling 75,248 shares during the quarter. New Oriental Education & Technology Group comprises approximately 2.7% of Seldon Capital LP’s holdings, making the stock its 15th biggest position. Seldon Capital LP’s holdings in New Oriental Education & Technology Group were worth $4,831,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Beverly Hills Private Wealth LLC lifted its stake in shares of New Oriental Education & Technology Group by 5.7% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock valued at $326,000 after purchasing an additional 227 shares during the period. Profund Advisors LLC raised its position in shares of New Oriental Education & Technology Group by 1.4% in the second quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock worth $1,344,000 after acquiring an additional 231 shares during the period. QRG Capital Management Inc. boosted its stake in shares of New Oriental Education & Technology Group by 7.4% during the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock worth $285,000 after acquiring an additional 254 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $43,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $50,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EDU shares. Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a research report on Thursday, October 17th. Citigroup decreased their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Moderate Buy” and an average target price of $99.67.

New Oriental Education & Technology Group Trading Down 0.6 %

EDU stock opened at $57.36 on Friday. The business’s 50-day moving average is $65.36 and its 200 day moving average is $70.54. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 24.51 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The business’s revenue was up 30.5% on a year-over-year basis. As a group, equities analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.