Keystone Investors PTE Ltd. Decreases Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Keystone Investors PTE Ltd. lowered its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 90.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,949 shares of the company’s stock after selling 97,773 shares during the quarter. Keystone Investors PTE Ltd.’s holdings in New Oriental Education & Technology Group were worth $639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $316,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter valued at about $1,609,000. Massachusetts Financial Services Co. MA grew its position in shares of New Oriental Education & Technology Group by 12.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after buying an additional 11,423 shares in the last quarter. Monolith Management Ltd acquired a new stake in New Oriental Education & Technology Group in the third quarter valued at approximately $15,168,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in New Oriental Education & Technology Group by 9.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 289,420 shares of the company’s stock worth $21,935,000 after acquiring an additional 25,000 shares during the last quarter.

New Oriental Education & Technology Group Trading Down 5.4 %

NYSE:EDU opened at $47.49 on Tuesday. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 20.21 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $92.50. The company’s 50-day moving average is $50.57 and its two-hundred day moving average is $59.10.

Analysts Set New Price Targets

A number of equities research analysts have commented on EDU shares. China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup downgraded New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. StockNews.com cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Finally, Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.