Tekne Capital Management LLC Takes $7.99 Million Position in New Oriental Education & Technology Group, Inc. (EDU)

Tekne Capital Management LLC bought a new stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 90,554 shares of the company’s stock, valued at approximately $7,992,000. New Oriental Education & Technology Group accounts for 1.6% of Tekne Capital Management LLC’s holdings, making the stock its 16th biggest position. Tekne Capital Management LLC owned 0.06% of New Oriental Education & Technology Group as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings 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 valued at $107,000 after buying an additional 35 shares during the period. Financial Counselors Inc. raised its holdings in shares of New Oriental Education & Technology Group by 1.0% during the 2nd quarter. Financial Counselors Inc. now owns 7,417 shares of the company’s stock valued at $523,000 after buying an additional 76 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of New Oriental Education & Technology Group by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,574 shares of the company’s stock valued at $2,509,000 after buying an additional 95 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in New Oriental Education & Technology Group by 5.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 3,585 shares of the company’s stock worth $253,000 after purchasing an additional 182 shares during the last quarter. Finally, TD Asset Management Inc. increased its holdings in New Oriental Education & Technology Group by 3.2% during the 2nd quarter. TD Asset Management Inc. now owns 9,673 shares of the company’s stock worth $682,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 77.39% of the company’s stock.

Several equities research analysts have issued reports on EDU shares. J P Morgan Chase & Co downgraded 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 report on Thursday, September 14th. Morgan Stanley started coverage on New Oriental Education & Technology Group in a report on Friday, August 25th. They set an “overweight” rating and a $100.00 price objective on the stock. CLSA downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Jefferies Group restated a “buy” rating and set a $109.00 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $89.76.

Shares of New Oriental Education & Technology Group, Inc. (EDU) opened at $84.69 on Tuesday. New Oriental Education & Technology Group, Inc. has a twelve month low of $40.01 and a twelve month high of $94.63. The stock has a market capitalization of $13,289.89, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.32.

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

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New Oriental Education & Technology Group Company 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.

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

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