Elevation Point Wealth Partners LLC Invests $598,000 in New Oriental Education & Technology Group, Inc. $EDU

Elevation Point Wealth Partners LLC bought a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the first quarter, HoldingsChannel.com reports. The fund bought 10,554 shares of the company’s stock, valued at approximately $598,000.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after purchasing an additional 512 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $72,000. Raymond James Financial Inc. bought a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth approximately $111,000. Leonteq Securities AG acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $155,000. Finally, PNC Financial Services Group Inc. raised its stake in New Oriental Education & Technology Group by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock valued at $186,000 after acquiring an additional 324 shares during the period.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $47.93 on Wednesday. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 0.68 and a beta of 0.19. The stock’s fifty day moving average price is $48.38 and its two-hundred day moving average price is $53.82. New Oriental Education & Technology Group, Inc. has a one year low of $41.62 and a one year high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $1.42 billion during the quarter. New Oriental Education & Technology Group had a return on equity of 11.67% and a net margin of 7.82%. On average, equities analysts anticipate that New Oriental Education & Technology Group, Inc. will post 3.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EDU has been the subject of several research reports. Weiss Ratings downgraded New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. New Street Research set a $65.00 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, June 11th. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $67.00 to $65.00 in a research report on Thursday, June 11th. Finally, Zacks Research cut shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, New Oriental Education & Technology Group has a consensus rating of “Moderate Buy” and an average price target of $66.24.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.