Massachusetts Financial Services Co. MA Raises Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Massachusetts Financial Services Co. MA raised its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 12.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,858 shares of the company’s stock after buying an additional 11,423 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.06% of New Oriental Education & Technology Group worth $7,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EDU. Ridgewood Investments LLC purchased a new position in New Oriental Education & Technology Group during the second quarter valued at approximately $43,000. Ashton Thomas Private Wealth LLC bought a new position in shares of New Oriental Education & Technology Group in the second quarter worth $50,000. Blue Trust Inc. raised its position in shares of New Oriental Education & Technology Group by 782.4% in the second quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after buying an additional 712 shares in the last quarter. Hancock Whitney Corp bought a new stake in New Oriental Education & Technology Group during the second quarter valued at $212,000. Finally, QRG Capital Management Inc. boosted its stake in 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 valued at $285,000 after buying an additional 254 shares during the period.

Wall Street Analyst Weigh In

EDU has been the topic of several recent analyst reports. Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a report on Thursday, October 17th. Citigroup lowered their target price on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

New Oriental Education & Technology Group Trading Down 0.4 %

EDU opened at $58.58 on Wednesday. The stock has a market capitalization of $9.94 billion, a P/E ratio of 25.00 and a beta of 0.49. The stock has a 50-day moving average price of $65.35 and a 200-day moving average price of $70.28. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. New Oriental Education & Technology Group’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, equities research 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.