New Oriental Education & Technology Group, Inc. (NYSE:EDU) Short Interest Up 20.9% in December

New Oriental Education & Technology Group, Inc. (NYSE:EDU) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 5,456,992 shares, a growth of 20.9% from the December 15th total of 4,512,650 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average trading volume of 548,722 shares, the days-to-cover ratio is presently 9.9 days. Based on an average trading volume of 548,722 shares, the days-to-cover ratio is presently 9.9 days. Currently, 4.1% of the shares of the company are sold short.

New Oriental Education & Technology Group Stock Performance

NYSE EDU traded down $0.54 on Monday, hitting $55.20. The stock had a trading volume of 589,781 shares, compared to its average volume of 548,824. The firm has a 50-day moving average of $54.50 and a 200-day moving average of $52.52. New Oriental Education & Technology Group has a 52-week low of $40.66 and a 52-week high of $61.56. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.30 and a beta of 0.29.

New Oriental Education & Technology Group Announces Dividend

The firm also recently announced a special dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 18th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, November 18th. New Oriental Education & Technology Group’s payout ratio is presently 25.55%.

Analyst Ratings Changes

Several equities research analysts have commented on EDU shares. Bank of America upped their price objective on shares of New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a report on Monday, September 29th. Zacks Research raised shares of New Oriental Education & Technology Group from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price target on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.53.

Institutional Trading of New Oriental Education & Technology Group

A number of large investors have recently modified their holdings of the business. Alkeon Capital Management LLC raised its position in shares of New Oriental Education & Technology Group by 101.3% during the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock valued at $118,339,000 after buying an additional 1,104,000 shares in the last quarter. Jump Financial LLC grew its position in New Oriental Education & Technology Group by 64.5% in the second quarter. Jump Financial LLC now owns 171,108 shares of the company’s stock worth $9,231,000 after acquiring an additional 67,108 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in New Oriental Education & Technology Group in the second quarter valued at $621,000. Carrhae Capital LLP purchased a new stake in New Oriental Education & Technology Group during the second quarter valued at about $18,717,000. Finally, MY.Alpha Management HK Advisors Ltd purchased a new stake in New Oriental Education & Technology Group during the second quarter valued at about $6,431,000.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.