Westpac Banking Corp Takes Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Westpac Banking Corp purchased a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 694 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds have also bought and sold shares of EDU. JPMorgan Chase & Co. raised its holdings in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after acquiring an additional 543,810 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of New Oriental Education & Technology Group in the third quarter worth $27,425,000. Green Court Capital Management Ltd acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $21,152,000. Panview Capital Ltd acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at about $27,358,000. Finally, Erste Asset Management GmbH bought a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $1,264,000.

New Oriental Education & Technology Group Stock Down 6.5 %

Shares of EDU opened at $44.66 on Friday. The stock has a market cap of $7.58 billion, a PE ratio of 19.00 and a beta of 0.37. New Oriental Education & Technology Group Inc. has a 12-month low of $43.34 and a 12-month high of $91.04. The business has a 50-day simple moving average of $49.36 and a two-hundred day simple moving average of $58.28.

Analyst Ratings Changes

EDU has been the subject of several analyst reports. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Finally, Citigroup downgraded New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.20.

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.