Massachusetts Financial Services Co. MA Has $1.81 Million Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Massachusetts Financial Services Co. MA decreased its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 71.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,212 shares of the company’s stock after selling 71,646 shares during the period. Massachusetts Financial Services Co. MA’s holdings in New Oriental Education & Technology Group were worth $1,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of New Oriental Education & Technology Group by 192.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after purchasing an additional 543,810 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in New Oriental Education & Technology Group during the third quarter worth about $27,425,000. Green Court Capital Management Ltd bought a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $21,152,000. Panview Capital Ltd acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $27,358,000. Finally, Erste Asset Management GmbH bought a new position in New Oriental Education & Technology Group in the 4th quarter valued at about $1,264,000.

New Oriental Education & Technology Group Trading Down 3.2 %

Shares of EDU stock opened at $41.20 on Wednesday. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 17.53 and a beta of 0.37. The business’s 50-day moving average price is $49.00 and its 200-day moving average price is $57.86. New Oriental Education & Technology Group Inc. has a 12 month low of $40.61 and a 12 month high of $91.04.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. China Renaissance lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of “Hold” and an average price target 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.