New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 32.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,931 shares of the company’s stock after selling 2,819 shares during the quarter. Rhumbline Advisers’ holdings in New Oriental Education & Technology Group were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EDU. Assetmark Inc. grew 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 worth $45,000 after acquiring an additional 575 shares during the last quarter. US Bancorp DE raised its position in New Oriental Education & Technology Group by 23.0% during the fourth quarter. US Bancorp DE now owns 11,379 shares of the company’s stock valued at $834,000 after buying an additional 2,126 shares during the period. Hsbc Holdings PLC raised its position in New Oriental Education & Technology Group by 3.4% during the fourth quarter. Hsbc Holdings PLC now owns 96,437 shares of the company’s stock valued at $7,113,000 after buying an additional 3,197 shares during the period. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in New Oriental Education & Technology Group during the fourth quarter valued at $733,000. Finally, Carmignac Gestion raised its position in New Oriental Education & Technology Group by 2,689.2% during the fourth quarter. Carmignac Gestion now owns 53,803 shares of the company’s stock valued at $3,943,000 after buying an additional 51,874 shares during the period.

New Oriental Education & Technology Group Trading Up 14.0 %

NYSE:EDU opened at $70.92 on Friday. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 38.13 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 1-year low of $57.21 and a 1-year high of $98.20. The business’s fifty day moving average price is $65.79 and its 200 day moving average price is $76.57.

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

New Oriental Education & Technology Group Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $0.58 dividend. The ex-dividend date of this dividend was Monday, September 9th.

Analyst Ratings Changes

Separately, Citigroup dropped their price target 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.67.

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.