New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 97.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,781 shares of the company’s stock after selling 315,421 shares during the quarter. Victory Capital Management Inc.’s holdings in New Oriental Education & Technology Group were worth $499,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after purchasing an additional 206 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $138,000. Blue Trust Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares during the last quarter. Finally, RWC Asset Management LLP acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $258,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EDU shares. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $83.00 to $50.00 in a report on Friday, January 24th. Finally, StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock opened at $50.12 on Friday. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $94.59. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 21.33 and a beta of 0.47. The firm’s fifty day moving average price is $50.80 and its 200 day moving average price is $59.21.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.