Norden Group LLC acquired a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU – Free Report ) during the first quarter, according to the latest SEC filing. The institutional investor purchased 9,170 shares of the company’s stock worth about $796,000.
Other hedge funds have also recently bought and sold shares of EDU. Assetmark Inc. increased its stake in New Oriental Education & Technology Group by 1,642.9% in the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000. It acquired an additional 575 shares in the last quarter. Jump Financial Inc. acquired a new stake in New Oriental Education & Technology Group in the fourth quarter valued at approximately $235,000. Panagora Asset Management Inc. acquired a new stake in New Oriental Education & Technology Group in the fourth quarter valued at approximately $240,000. QRG Capital Management Inc. acquired a new stake in New Oriental Education & Technology Group in the fourth quarter valued at approximately $271,000. Finally, Claro Advisors Inc. increased its stake in New Oriental Education & Technology Group by 5.3% in the first quarter. Claro Advisors LLC now owns 3,797 shares of the company’s stock valued at $330,000 after acquiring an additional 191 shares in the last quarter.
Wall Street analysts predict growth
EDU has been the topic of several research reports. HSBC initiated coverage on New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target on the stock. Citigroup increased their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Morgan Stanley increased their price target on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating. According to MarketBeat data, the stock currently has a consensus of a “moderate buy” rating and a $100.75 price target.
View our latest analysis for New Oriental Educational Technology Group
New Oriental Educational Technology Group’s Price Performance
NYSE EDU shares opened trading at $79.56 on Friday. The stock’s 50-day moving average is $79.57 and its 200-day moving average is $82.28. New Oriental Education & Technology Group’s one-year low is $39.19 and its one-year high is $98.20. The company has a market capitalization of $13.5 billion, a price-to-earnings ratio of 42.77 and a beta of 0.44.
New Oriental Education & Technology Group (NYSE:EDU – get free report ) announced its quarterly earnings on Wednesday, April 24th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. The company’s revenue for the quarter was $1.21 billion, beating analyst estimates of $1.09 billion. Equity research analysts expect New Oriental Education & Technology Group to post earnings per share of $1.86 for the current fiscal year.
About New Oriental Education & Technology Group
(Free report)
New Oriental Education & Technology Group Inc provides private education services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: educational services and exam preparation courses, online education and other services, overseas study consulting services, and educational materials and distribution.
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