Point72 Hong Kong Ltd Purchases Shares of 344,948 New Oriental Education & Technology Group Inc. (NYSE:EDU)

Point72 Hong Kong Ltd purchased a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the 4th quarter, Holdings Channel reports. The firm purchased 344,948 shares of the company’s stock, valued at approximately $22,139,000. New Oriental Education & Technology Group accounts for about 1.4% of Point72 Hong Kong Ltd’s holdings, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Aspex Management HK Ltd lifted its stake in shares of New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock valued at $478,456,000 after buying an additional 2,701,566 shares during the period. FMR LLC raised its holdings in New Oriental Education & Technology Group by 46.3% in the 4th quarter. FMR LLC now owns 4,539,678 shares of the company’s stock valued at $291,357,000 after acquiring an additional 1,437,656 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of New Oriental Education & Technology Group by 61.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock worth $249,952,000 after acquiring an additional 1,480,391 shares during the period. Schroder Investment Management Group grew its holdings in shares of New Oriental Education & Technology Group by 17.2% during the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company’s stock worth $193,815,000 after purchasing an additional 442,656 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of New Oriental Education & Technology Group by 175.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock worth $146,123,000 after purchasing an additional 1,449,979 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU opened at $50.05 on Thursday. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $88.53. The business has a fifty day moving average of $47.03 and a two-hundred day moving average of $53.47. The stock has a market cap of $8.49 billion, a PE ratio of 21.30 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.06). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. Analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. China Renaissance lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. JPMorgan Chase & Co. lowered their target price on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Hold” and an average price target of $60.80.

New Oriental Education & Technology Group 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.