Point72 Asset Management L.P. Purchases Shares of 57,502 New Oriental Education & Technology Group Inc. (NYSE:EDU)

Point72 Asset Management L.P. purchased a new stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 57,502 shares of the company’s stock, valued at approximately $3,690,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EDU. SG Americas Securities LLC bought a new stake in New Oriental Education & Technology Group during the fourth quarter valued at about $272,000. Blue Trust Inc. increased its holdings in shares of New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after purchasing an additional 775 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of New Oriental Education & Technology Group by 5.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,284 shares of the company’s stock worth $2,003,000 after purchasing an additional 1,496 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $138,000. Finally, Lester Murray Antman dba SimplyRich bought a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $322,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Finally, StockNews.com raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Monday, May 5th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.80.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $48.19 on Wednesday. The business’s 50 day moving average is $47.06 and its two-hundred day moving average is $53.00. New Oriental Education & Technology Group Inc. has a 1-year low of $40.66 and a 1-year high of $87.26. The stock has a market capitalization of $8.18 billion, a P/E ratio of 20.51 and a beta of 0.25.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a return on equity of 9.48% and a net margin of 8.13%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current fiscal year.

About New Oriental Education & Technology Group

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.