Hsbc Holdings PLC Sells 20,642 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Hsbc Holdings PLC cut its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,987 shares of the company’s stock after selling 20,642 shares during the quarter. Hsbc Holdings PLC owned approximately 0.12% of New Oriental Education & Technology Group worth $16,450,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Ridgewood Investments LLC bought a new stake in New Oriental Education & Technology Group during the second quarter worth about $43,000. Assetmark Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 1,642.9% in the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000 after buying an additional 575 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of New Oriental Education & Technology Group in the second quarter valued at $50,000. Blue Trust Inc. increased its holdings in New Oriental Education & Technology Group by 782.4% during the second quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after buying an additional 712 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new stake in New Oriental Education & Technology Group during the first quarter worth $231,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EDU shares. Citigroup decreased their price objective 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 report on Friday, August 2nd. HSBC assumed coverage on New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.67.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $62.75 on Monday. New Oriental Education & Technology Group Inc. has a 52 week low of $53.44 and a 52 week high of $98.20. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 33.74 and a beta of 0.46. The company has a 50-day simple moving average of $66.46 and a 200 day simple moving average of $77.10.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current year.

New Oriental Education & Technology Group Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 9th.

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.