Public Employees Retirement System of Ohio Acquires New Holdings in New Oriental Education & Technology Group, Inc. $EDU

Public Employees Retirement System of Ohio bought a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDUFree Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,746 shares of the company’s stock, valued at approximately $585,000.

Several other hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in New Oriental Education & Technology Group by 5,697.3% in the fourth quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock valued at $253,738,000 after buying an additional 4,531,370 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $86,526,000. Federated Hermes Inc. raised its holdings in shares of New Oriental Education & Technology Group by 13,865.2% during the fourth quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock worth $40,846,000 after acquiring an additional 736,934 shares during the period. Tiger Pacific Capital LP acquired a new stake in shares of New Oriental Education & Technology Group during the second quarter worth $38,056,000. Finally, BRIGHT VALLEY CAPITAL Ltd bought a new stake in New Oriental Education & Technology Group in the 4th quarter valued at $28,944,000.

Insider Buying and Selling

In related news, Director Yue Zhuge sold 1,600 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $119,100. This trade represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chenggang Zhou sold 56,948 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the transaction, the director owned 429,998 shares in the company, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 72,170 shares of company stock worth $4,100,348. Company insiders own 15.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EDU. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.92.

Get Our Latest Analysis on New Oriental Education & Technology Group

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU opened at $54.60 on Friday. The stock has a 50 day moving average price of $53.94 and a 200 day moving average price of $52.63. The stock has a market capitalization of $8.63 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 0.59 and a beta of 0.23. New Oriental Education & Technology Group, Inc. has a 52 week low of $44.25 and a 52 week high of $64.97.

About New Oriental Education & Technology Group

(Free Report)

New Oriental Education & Technology Group Inc is a China-based education services provider that offers learning programs through online platforms and physical schools and learning centers. The company serves students, families and adult learners with services covering language training, test preparation, educational consulting and other academic programs.

Its offerings have historically included preparation for overseas admissions and examinations such as TOEFL, IELTS, SAT, GRE and GMAT, as well as overseas study consulting, domestic examination preparation, primary and secondary education services, and educational materials and software.

Further Reading

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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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