Ariose Capital Management Ltd Invests $46.10 Million in New Oriental Education & Technology Group, Inc. (EDU)

Ariose Capital Management Ltd purchased a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 522,300 shares of the company’s stock, valued at approximately $46,098,000. New Oriental Education & Technology Group accounts for approximately 12.4% of Ariose Capital Management Ltd’s holdings, making the stock its 4th biggest position. Ariose Capital Management Ltd owned about 0.33% of New Oriental Education & Technology Group at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of New Oriental Education & Technology Group by 2.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,513 shares of the company’s stock worth $107,000 after buying an additional 35 shares during the period. Nippon Life Insurance Co. bought a new position in New Oriental Education & Technology Group during the 2nd quarter worth approximately $111,000. Advisor Group Inc. boosted its stake in New Oriental Education & Technology Group by 182.5% during the 2nd quarter. Advisor Group Inc. now owns 1,743 shares of the company’s stock worth $123,000 after acquiring an additional 1,126 shares during the last quarter. Stevens Capital Management LP bought a new position in New Oriental Education & Technology Group during the 2nd quarter worth approximately $207,000. Finally, Wetherby Asset Management Inc. bought a new position in New Oriental Education & Technology Group during the 2nd quarter worth approximately $227,000. Institutional investors own 75.75% of the company’s stock.

Several research analysts recently weighed in on EDU shares. J P Morgan Chase & Co lowered shares of New Oriental Education & Technology Group from a “neutral” rating to an “underweight” rating and set a $82.00 price objective on the stock. in a research note on Thursday, September 14th. Morgan Stanley started coverage on shares of New Oriental Education & Technology Group in a research note on Friday, August 25th. They set an “overweight” rating and a $100.00 price objective on the stock. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Tuesday, July 18th. CLSA lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating in a research note on Tuesday, October 24th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $109.00 price objective on shares of New Oriental Education & Technology Group in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $89.76.

Shares of New Oriental Education & Technology Group, Inc. (EDU) traded up $5.62 on Monday, reaching $87.16. 1,868,346 shares of the company’s stock were exchanged, compared to its average volume of 2,089,705. New Oriental Education & Technology Group, Inc. has a 1 year low of $37.16 and a 1 year high of $94.63. The company has a market capitalization of $12,857.83, a price-to-earnings ratio of 44.08, a P/E/G ratio of 1.26 and a beta of 1.31.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.04). New Oriental Education & Technology Group had a net margin of 15.15% and a return on equity of 17.32%. The company had revenue of $661.20 million during the quarter, compared to the consensus estimate of $643.90 million. During the same period in the previous year, the firm posted $0.90 EPS. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.03 earnings per share for the current fiscal year.

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New Oriental Education & Technology Group Profile

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.

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

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