New Oriental Education & Technology Group, Inc. (NYSE:EDU) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lessened its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 91.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,527 shares of the company’s stock after selling 104,530 shares during the period. Thornburg Investment Management Inc.’s holdings in New Oriental Education & Technology Group were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. GeoWealth Management LLC raised its position in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Westpac Banking Corp acquired a new stake in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $45,000. Banque Cantonale Vaudoise acquired a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth approximately $54,000. Natixis increased its holdings in shares of New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company’s stock valued at $57,000 after purchasing an additional 248 shares in the last quarter. Finally, BNP Paribas acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $113,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $48.00 to $62.00 in a research report on Tuesday, June 24th. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Finally, Citigroup upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $77.00 to $50.00 in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.00.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU opened at $46.81 on Wednesday. The firm has a fifty day moving average of $49.13 and a 200 day moving average of $48.90. The firm has a market cap of $7.94 billion, a PE ratio of 19.75 and a beta of 0.28. New Oriental Education & Technology Group, Inc. has a one year low of $40.66 and a one year high of $87.26.

New Oriental Education & Technology Group 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.