New Oriental Education & Technology Group, Inc. (NYSE:EDU – Get Free Report)’s share price traded up 4.5% during mid-day trading on Thursday. The stock traded as high as $58.34 and last traded at $58.5780. Approximately 106,354 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 797,974 shares. The stock had previously closed at $56.08.
Analyst Upgrades and Downgrades
A number of research firms recently commented on EDU. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $67.00 to $65.00 in a research note on Thursday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Finally, Wall Street Zen cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Moderate Buy” and a consensus price target of $61.92.
View Our Latest Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Stock Performance
Insider Activity at New Oriental Education & Technology Group
In other New Oriental Education & Technology Group news, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction that occurred 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 transaction, the director owned 2,000 shares in the company, valued at approximately $119,100. The trade was a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Chenggang Zhou sold 56,948 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the transaction, the director directly owned 429,998 shares in the company, valued at $24,436,786.34. This represents a 11.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 72,170 shares of company stock valued at $4,100,348. Company insiders own 15.50% of the company’s stock.
Hedge Funds Weigh In On New Oriental Education & Technology Group
Hedge funds have recently modified their holdings of the stock. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at $28,944,000. Amundi increased its stake in New Oriental Education & Technology Group by 14.4% in the 1st quarter. Amundi now owns 507,774 shares of the company’s stock worth $28,755,000 after purchasing an additional 63,845 shares in the last quarter. Triata Capital Ltd raised its holdings in New Oriental Education & Technology Group by 8.0% during the 4th quarter. Triata Capital Ltd now owns 396,786 shares of the company’s stock worth $21,835,000 after buying an additional 29,412 shares during the period. Lazard Asset Management LLC acquired a new stake in New Oriental Education & Technology Group during the 1st quarter worth about $18,528,000. Finally, Carmignac Gestion lifted its stake in New Oriental Education & Technology Group by 0.8% during the second quarter. Carmignac Gestion now owns 368,392 shares of the company’s stock valued at $16,921,000 after buying an additional 3,006 shares in the last quarter.
New Oriental Education & Technology Group Company Profile
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.
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