New Oriental Education & Technology Group, Inc. (NYSE:EDU – Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $54.15 and traded as high as $55.13. New Oriental Education & Technology Group shares last traded at $55.06, with a volume of 447,491 shares traded.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on EDU shares. New Street Research set a $56.50 price objective on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Weiss Ratings downgraded New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Finally, Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.75.
View Our Latest Research Report on EDU
New Oriental Education & Technology Group Stock Up 2.0%
The company has a market cap of $8.54 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 0.58 and a beta of 0.24. The stock has a fifty day moving average price of $56.35 and a two-hundred day moving average price of $54.15.
New Oriental Education & Technology Group Announces Dividend
The firm also recently disclosed a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Wednesday, November 18th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. New Oriental Education & Technology Group’s payout ratio is 36.25%.
Insiders Place Their Bets
In other New Oriental Education & Technology Group news, Director Chenggang Zhou sold 56,948 shares of the business’s stock in a transaction dated 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 sale, the director owned 429,998 shares of the company’s stock, valued at $24,436,786.34. The trade was a 11.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in New Oriental Education & Technology Group by 4.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,272 shares of the company’s stock worth $404,000 after acquiring an additional 341 shares during the period. First Command Advisory Services Inc. raised its holdings in New Oriental Education & Technology Group by 190.6% in the 3rd quarter. First Command Advisory Services Inc. now owns 3,749 shares of the company’s stock valued at $208,000 after acquiring an additional 2,459 shares in the last quarter. Ethic Inc. acquired a new position in New Oriental Education & Technology Group in the 3rd quarter valued at $231,000. Vise Technologies Inc. lifted its position in shares of New Oriental Education & Technology Group by 68.2% during the 3rd quarter. Vise Technologies Inc. now owns 10,292 shares of the company’s stock valued at $571,000 after acquiring an additional 4,172 shares during the period. Finally, Summit Global Investments bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter valued at $818,000.
About New Oriental Education & Technology Group
New Oriental Education & Technology Group is a China-based education company that provides language training, test preparation, tutoring and other learning services. Its offerings have included preparation for overseas exams, domestic entrance examinations and English-language study, as well as study-abroad consulting and educational materials.
Founded in Beijing in 1993 by educator Michael Yu (Yu Minhong), the company has expanded its services across China and developed online learning products alongside in-person instruction.
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