Polymer Capital Management HK LTD Has $5.33 Million Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Polymer Capital Management HK LTD lifted its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 25.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,000 shares of the company’s stock after purchasing an additional 16,900 shares during the quarter. New Oriental Education & Technology Group makes up about 0.9% of Polymer Capital Management HK LTD’s holdings, making the stock its 26th biggest position. Polymer Capital Management HK LTD’s holdings in New Oriental Education & Technology Group were worth $5,327,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EDU. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth $45,000. SBI Securities Co. Ltd. bought a new position in New Oriental Education & Technology Group in the 4th quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after acquiring an additional 206 shares during the last quarter. Empowered Funds LLC bought a new position in New Oriental Education & Technology Group in the 4th quarter worth approximately $138,000. Finally, Blue Trust Inc. raised its position in shares of New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after acquiring an additional 775 shares during the last quarter.

New Oriental Education & Technology Group Stock Down 6.5 %

Shares of NYSE EDU opened at $44.66 on Friday. The firm has a market cap of $7.58 billion, a PE ratio of 19.00 and a beta of 0.37. The company’s fifty day simple moving average is $49.36 and its 200 day simple moving average is $58.28. New Oriental Education & Technology Group Inc. has a 12-month low of $43.34 and a 12-month high of $91.04.

Analysts Set New Price Targets

Several research firms have weighed in on EDU. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $83.00 to $50.00 in a report on Friday, January 24th. Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Finally, China Renaissance downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, New Oriental Education & Technology Group has an average rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group 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.