KEYWISE CAPITAL MANAGEMENT HK Ltd Sells 481,450 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

KEYWISE CAPITAL MANAGEMENT HK Ltd decreased its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 50.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 475,440 shares of the company’s stock after selling 481,450 shares during the period. New Oriental Education & Technology Group accounts for 2.5% of KEYWISE CAPITAL MANAGEMENT HK Ltd’s portfolio, making the stock its 9th largest position. KEYWISE CAPITAL MANAGEMENT HK Ltd’s holdings in New Oriental Education & Technology Group were worth $30,514,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. GeoWealth Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 258.5% during the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Westpac Banking Corp purchased a new stake in New Oriental Education & Technology Group during the fourth quarter valued at about $45,000. SBI Securities Co. Ltd. acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $51,000. Natixis raised its holdings in shares of New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after purchasing an additional 248 shares during the period. Finally, BNP Paribas acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $113,000.

New Oriental Education & Technology Group Stock Up 1.6 %

Shares of EDU opened at $47.32 on Friday. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 20.14 and a beta of 0.25. The business’s 50 day moving average is $47.00 and its two-hundred day moving average is $53.65. New Oriental Education & Technology Group Inc. has a 52-week low of $40.66 and a 52-week high of $89.33.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). The company 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 was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. On average, equities analysts expect that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

New Oriental Education & Technology Group Company 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.