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

Ritholtz Wealth Management lessened its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,999 shares of the company’s stock after selling 953 shares during the period. Ritholtz Wealth Management’s holdings in New Oriental Education & Technology Group were worth $1,244,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EDU. Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group during the second quarter valued at $43,000. Assetmark Inc. grew its stake in New Oriental Education & Technology Group by 1,642.9% during the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000 after purchasing an additional 575 shares during the last quarter. Blue Trust Inc. increased its holdings 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 valued at $62,000 after purchasing an additional 712 shares during the period. Yousif Capital Management LLC purchased a new position in shares of New Oriental Education & Technology Group in the first quarter worth about $231,000. Finally, Jump Financial LLC acquired a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $235,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. HSBC assumed coverage on shares of New Oriental Education & Technology Group in a report on Wednesday, May 29th. They issued a “buy” rating and a $110.00 price target on the stock. 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 report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Trading Up 0.5 %

Shares of EDU stock opened at $61.48 on Tuesday. New Oriental Education & Technology Group Inc. has a twelve month low of $53.16 and a twelve month high of $98.20. The stock has a 50 day moving average of $71.54 and a 200 day moving average of $80.21. The stock has a market cap of $10.43 billion, a P/E ratio of 33.05 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results 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). 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 for the quarter, compared to analysts’ expectations of $1.14 billion. On average, research analysts predict that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, September 9th.

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.