Greenwoods Asset Management Hong Kong Ltd. Acquires 167,721 Shares of New Oriental Education & Technology Group, Inc. $EDU

Greenwoods Asset Management Hong Kong Ltd. grew its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 13.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,396,039 shares of the company’s stock after acquiring an additional 167,721 shares during the quarter. New Oriental Education & Technology Group accounts for approximately 2.1% of Greenwoods Asset Management Hong Kong Ltd.’s investment portfolio, making the stock its 12th biggest position. Greenwoods Asset Management Hong Kong Ltd. owned about 0.82% of New Oriental Education & Technology Group worth $66,745,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EDU. Quantbot Technologies LP bought a new stake in New Oriental Education & Technology Group during the first quarter worth about $1,256,000. Wellington Management Group LLP lifted its position in New Oriental Education & Technology Group by 15.8% during the first quarter. Wellington Management Group LLP now owns 727,016 shares of the company’s stock worth $34,759,000 after purchasing an additional 99,330 shares during the period. Triata Capital Ltd bought a new stake in New Oriental Education & Technology Group during the first quarter worth about $14,045,000. Discerene Group LP bought a new stake in New Oriental Education & Technology Group during the first quarter worth about $75,564,000. Finally, Brooklyn Investment Group lifted its position in New Oriental Education & Technology Group by 3,700.0% during the first quarter. Brooklyn Investment Group now owns 1,330 shares of the company’s stock worth $64,000 after purchasing an additional 1,295 shares during the period.

New Oriental Education & Technology Group Trading Down 0.1%

EDU stock opened at $48.34 on Tuesday. The stock has a market capitalization of $8.21 billion, a P/E ratio of 21.48 and a beta of 0.25. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26. The firm has a 50-day moving average price of $48.88 and a 200-day moving average price of $48.26.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, July 30th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.37. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. New Oriental Education & Technology Group had a net margin of 7.59% and a return on equity of 11.32%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, equities analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of New Oriental Education & Technology Group to a “hold” rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. The Goldman Sachs Group cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $58.00 to $50.00 in a research report on Wednesday, August 6th. HSBC cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Hold” and an average price target of $51.60.

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.