New Oriental Education & Technology Group Inc. (NYSE:EDU) Stock Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 175.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,276,762 shares of the company’s stock after buying an additional 1,449,979 shares during the period. JPMorgan Chase & Co.’s holdings in New Oriental Education & Technology Group were worth $146,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth about $51,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of New Oriental Education & Technology Group by 14.2% during the third 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. Empowered Funds LLC purchased a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $138,000. Blue Trust Inc. boosted its position in shares of New Oriental Education & Technology Group by 37.8% in the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after buying an additional 775 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at $224,000.

Wall Street Analyst Weigh In

EDU has been the subject of a number of research reports. Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $83.00 to $50.00 in a report on Friday, January 24th. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock opened at $48.00 on Wednesday. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 20.43 and a beta of 0.47. The firm has a fifty day moving average price of $49.34 and a two-hundred day moving average price of $58.55. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $91.04.

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.