Carrhae Capital LLP Increases Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Carrhae Capital LLP grew its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 684,187 shares of the company’s stock after purchasing an additional 159,848 shares during the quarter. New Oriental Education & Technology Group comprises approximately 5.9% of Carrhae Capital LLP’s holdings, making the stock its 7th largest holding. Carrhae Capital LLP owned 0.40% of New Oriental Education & Technology Group worth $51,889,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $43,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at approximately $50,000. Blue Trust Inc. raised its position 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 valued at $62,000 after purchasing an additional 712 shares in the last quarter. Hancock Whitney Corp bought a new stake in shares of New Oriental Education & Technology Group during the second quarter worth $212,000. Finally, Yousif Capital Management LLC bought a new stake in shares of New Oriental Education & Technology Group during the first quarter worth $231,000.

Analysts Set New Price Targets

A number of brokerages have commented on EDU. Morgan Stanley set a $83.00 price target on shares of New Oriental Education & Technology Group in a research report on Thursday. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Finally, Citigroup reduced their target price 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. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.67.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $69.76 on Monday. The firm’s fifty day moving average price is $67.48 and its 200-day moving average price is $74.63. The stock has a market cap of $11.84 billion, a P/E ratio of 37.51 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a fifty-two week low of $58.45 and a fifty-two week high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.19). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. On average, analysts predict 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 firm also recently announced a — dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a $0.58 dividend. The ex-dividend date of this dividend was 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.