New Oriental Education & Technology Group Inc. (NYSE:EDU) Holdings Decreased by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. cut its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,028 shares of the company’s stock after selling 700 shares during the quarter. Ramirez Asset Management Inc.’s holdings in New Oriental Education & Technology Group were worth $900,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Pictet Asset Management Holding SA grew its position in New Oriental Education & Technology Group by 4.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 155,284 shares of the company’s stock valued at $9,966,000 after purchasing an additional 6,342 shares in the last quarter. Norges Bank purchased a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $92,345,000. JPMorgan Chase & Co. increased its position in New Oriental Education & Technology Group by 175.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock worth $146,123,000 after purchasing an additional 1,449,979 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of New Oriental Education & Technology Group by 34.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 69,113 shares of the company’s stock worth $4,436,000 after purchasing an additional 17,897 shares in the last quarter. Finally, Carrhae Capital LLP lifted its holdings in shares of New Oriental Education & Technology Group by 52.4% during the 4th quarter. Carrhae Capital LLP now owns 1,042,689 shares of the company’s stock valued at $66,920,000 after buying an additional 358,502 shares during the last quarter.

New Oriental Education & Technology Group Stock Up 0.5 %

EDU opened at $47.56 on Friday. The stock’s 50 day moving average price is $49.85 and its two-hundred day moving average price is $58.84. The firm has a market capitalization of $8.07 billion, a P/E ratio of 20.24 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $91.04.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EDU. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $83.00 to $50.00 in a research report on Friday, January 24th. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. China Renaissance cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday. Finally, StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, New Oriental Education & Technology Group has an average rating of “Hold” and a consensus target price of $61.20.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.