Ninety One North America Inc. Cuts Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Ninety One North America Inc. trimmed its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 24.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 403,200 shares of the company’s stock after selling 129,205 shares during the quarter. New Oriental Education & Technology Group makes up approximately 1.4% of Ninety One North America Inc.’s investment portfolio, making the stock its 26th biggest holding. Ninety One North America Inc.’s holdings in New Oriental Education & Technology Group were worth $29,546,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in New Oriental Education & Technology Group by 2.4% during the first quarter. BlackRock Inc. now owns 64,329,110 shares of the company’s stock valued at $73,977,000 after buying an additional 1,492,990 shares during the period. Renaissance Technologies LLC grew its holdings in New Oriental Education & Technology Group by 130.8% in the first quarter. Renaissance Technologies LLC now owns 37,490,100 shares of the company’s stock worth $43,114,000 after purchasing an additional 21,246,644 shares during the last quarter. Wellington Management Group LLP grew its holdings in New Oriental Education & Technology Group by 11.4% in the first quarter. Wellington Management Group LLP now owns 9,078,131 shares of the company’s stock worth $10,441,000 after purchasing an additional 932,613 shares during the last quarter. FMR LLC grew its holdings in New Oriental Education & Technology Group by 92.7% in the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock worth $388,274,000 after purchasing an additional 3,189,254 shares during the last quarter. Finally, Bridgewater Associates LP grew its holdings in New Oriental Education & Technology Group by 48.9% in the first quarter. Bridgewater Associates LP now owns 6,201,032 shares of the company’s stock worth $7,131,000 after purchasing an additional 2,035,926 shares during the last quarter.

Wall Street Analyst Weigh In

EDU has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th.

New Oriental Education & Technology Group Stock Performance

NYSE EDU traded up $2.37 on Thursday, reaching $86.92. 562,751 shares of the company’s stock traded hands, compared to its average volume of 1,648,139. The firm has a market cap of $14.75 billion, a price-to-earnings ratio of 46.46 and a beta of 0.49. The stock has a 50 day moving average price of $89.84 and a 200-day moving average price of $77.89. New Oriental Education & Technology Group Inc. has a fifty-two week low of $35.70 and a fifty-two week high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, January 24th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The company had revenue of $869.60 million for the quarter, compared to analysts’ expectations of $814.01 million. New Oriental Education & Technology Group had a return on equity of 7.97% and a net margin of 8.54%. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current fiscal year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.