Ritholtz Wealth Management Reduces Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Ritholtz Wealth Management reduced its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,038 shares of the company’s stock after selling 2,961 shares during the period. Ritholtz Wealth Management’s holdings in New Oriental Education & Technology Group were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EDU. Claro Advisors LLC lifted its holdings in New Oriental Education & Technology Group by 5.3% during the 1st quarter. Claro Advisors LLC now owns 3,797 shares of the company’s stock worth $330,000 after buying an additional 191 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its holdings in New Oriental Education & Technology Group by 5.7% in the second quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock valued at $326,000 after purchasing an additional 227 shares in the last quarter. Profund Advisors LLC raised its holdings in New Oriental Education & Technology Group by 1.4% during the second quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock worth $1,344,000 after purchasing an additional 231 shares in the last quarter. QRG Capital Management Inc. raised its holdings 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 worth $285,000 after purchasing an additional 254 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter worth approximately $43,000.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU opened at $74.14 on Tuesday. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 39.86 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a one year low of $58.45 and a one year high of $98.20. The company has a 50-day simple moving average of $67.51 and a 200-day simple moving average of $75.13.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a $0.58 dividend. The ex-dividend date was Monday, September 9th.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EDU shares. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup cut their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.67.

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.