Pinpoint Asset Management Ltd Trims Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Pinpoint Asset Management Ltd lowered its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 40.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 365,861 shares of the company’s stock after selling 245,128 shares during the period. New Oriental Education & Technology Group makes up 6.0% of Pinpoint Asset Management Ltd’s holdings, making the stock its 5th biggest holding. Pinpoint Asset Management Ltd’s holdings in New Oriental Education & Technology Group were worth $27,747,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of EDU. Aspex Management HK Ltd increased its holdings in New Oriental Education & Technology Group by 46.7% in the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after buying an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of New Oriental Education & Technology Group by 20,215.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after acquiring an additional 989,536 shares in the last quarter. Farallon Capital Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 139.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after acquiring an additional 854,590 shares during the last quarter. Millennium Management LLC raised its position in shares of New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after acquiring an additional 436,098 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its position in shares of New Oriental Education & Technology Group by 211.7% during the 2nd quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company’s stock valued at $43,058,000 after acquiring an additional 376,036 shares in the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on EDU shares. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Price Performance

NYSE:EDU opened at $63.84 on Wednesday. The firm has a market capitalization of $10.83 billion, a P/E ratio of 27.28 and a beta of 0.46. The business has a 50 day simple moving average of $65.11 and a 200 day simple moving average of $69.20. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20.

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

About New Oriental Education & Technology Group

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.