JPMorgan Chase & Co. Increases Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

JPMorgan Chase & Co. grew its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 192.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 826,783 shares of the company’s stock after acquiring an additional 543,810 shares during the period. JPMorgan Chase & Co.’s holdings in New Oriental Education & Technology Group were worth $62,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EDU. Aspex Management HK Ltd raised its stake in New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after buying an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in New Oriental Education & Technology Group by 20,215.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after purchasing an additional 989,536 shares in the last quarter. Farallon Capital Management LLC grew its position in New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock valued at $114,231,000 after purchasing an additional 854,590 shares during the last quarter. Millennium Management LLC increased its stake in New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after purchasing an additional 436,098 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its holdings in New Oriental Education & Technology Group by 211.7% in the second quarter. Thornburg Investment Management Inc. now owns 553,694 shares of the company’s stock worth $43,058,000 after buying an additional 376,036 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $62.63 on Friday. New Oriental Education & Technology Group Inc. has a one year low of $54.00 and a one year high of $98.20. The stock has a fifty day moving average of $60.94 and a 200 day moving average of $66.77. The stock has a market cap of $10.63 billion, a PE ratio of 26.77 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The business’s quarterly revenue was up 30.5% on a year-over-year basis. As a group, sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

New Oriental Education & Technology Group 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.