New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 29.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 203,796 shares of the company’s stock after selling 85,624 shares during the period. New Oriental Education & Technology Group comprises 0.6% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 28th biggest holding. Harvest Fund Management Co. Ltd’s holdings in New Oriental Education & Technology Group were worth $13,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EDU. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in New Oriental Education & Technology Group by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock valued at $1,377,000 after acquiring an additional 247 shares during the period. Blue Trust Inc. grew its stake in New Oriental Education & Technology Group by 37.8% in the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after acquiring an additional 775 shares during the period. Corient Private Wealth LLC grew its stake in New Oriental Education & Technology Group by 27.4% in the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company’s stock valued at $237,000 after acquiring an additional 792 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at $51,000.

New Oriental Education & Technology Group Stock Up 3.5 %

NYSE EDU opened at $52.59 on Wednesday. New Oriental Education & Technology Group Inc. has a 52 week low of $44.46 and a 52 week high of $95.88. The business’s fifty day simple moving average is $51.49 and its 200-day simple moving average is $59.39. The firm has a market cap of $8.93 billion, a PE ratio of 22.38 and a beta of 0.47.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EDU. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.20.

About New Oriental Education & Technology Group

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.