World Asset Management Inc Has $654,000 Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

World Asset Management Inc decreased its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,271 shares of the company’s stock after selling 544 shares during the period. World Asset Management Inc’s holdings in New Oriental Education & Technology Group were worth $654,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in New Oriental Education & Technology Group by 5,434.7% in the first quarter. BlackRock Inc. now owns 6,286,645 shares of the company’s stock valued at $379,587,000 after buying an additional 6,173,060 shares during the last quarter. Greenwoods Asset Management Ltd raised its stake in New Oriental Education & Technology Group by 2,187.6% in the first quarter. Greenwoods Asset Management Ltd now owns 2,036,000 shares of the company’s stock valued at $122,934,000 after buying an additional 1,947,000 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in New Oriental Education & Technology Group by 235.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,106,533 shares of the company’s stock valued at $127,192,000 after buying an additional 1,478,100 shares during the last quarter. Columbia Wanger Asset Management LLC purchased a new stake in New Oriental Education & Technology Group during the first quarter valued at $57,392,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in New Oriental Education & Technology Group during the first quarter valued at $44,198,000. 82.46% of the stock is owned by institutional investors.

New Oriental Education & Technology Group, Inc. (NYSE:EDU) traded up 1.07% during mid-day trading on Friday, hitting $80.05. 860,767 shares of the stock traded hands. The stock has a market capitalization of $12.62 billion, a PE ratio of 46.01 and a beta of 1.40. New Oriental Education & Technology Group, Inc. has a one year low of $37.16 and a one year high of $83.91. The company has a 50 day moving average price of $78.38 and a 200-day moving average price of $65.97.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.03. New Oriental Education & Technology Group had a net margin of 15.25% and a return on equity of 17.02%. The business had revenue of $486.40 million during the quarter, compared to analyst estimates of $477.81 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that New Oriental Education & Technology Group, Inc. will post $2.37 earnings per share for the current fiscal year.

The firm also recently declared a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 6th will be given a $0.45 dividend. This is a boost from New Oriental Education & Technology Group’s previous special dividend of $0.40. The ex-dividend date is Friday, September 1st.

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EDU has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a report on Tuesday, May 16th. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating and set a $74.80 price target on shares of New Oriental Education & Technology Group in a research note on Tuesday, April 25th. J P Morgan Chase & Co reissued a “neutral” rating and set a $62.00 price target on shares of New Oriental Education & Technology Group in a research note on Wednesday, May 17th. Finally, UBS AG initiated coverage on shares of New Oriental Education & Technology Group in a research note on Tuesday, August 1st. They set a “buy” rating and a $96.75 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $76.36.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

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

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