Harvest Fund Management Co. Ltd Grows Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Harvest Fund Management Co. Ltd lifted its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 9.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 289,420 shares of the company’s stock after buying an additional 25,000 shares during the period. New Oriental Education & Technology Group accounts for 1.3% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 15th biggest holding. Harvest Fund Management Co. Ltd’s holdings in New Oriental Education & Technology Group were worth $21,935,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have commented on EDU shares. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th. Finally, Citigroup decreased their price target on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.

New Oriental Education & Technology Group Trading Down 0.6 %

Shares of EDU opened at $57.36 on Monday. The firm’s 50-day moving average is $65.36 and its two-hundred day moving average is $70.46. New Oriental Education & Technology Group Inc. has a twelve month low of $54.00 and a twelve month high of $98.20. The firm has a market capitalization of $9.73 billion, a P/E ratio of 24.51 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. New Oriental Education & Technology Group’s revenue was up 30.5% compared to the same quarter last year. Analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

New Oriental Education & Technology Group Company 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.