New Oriental Education & Technology Group Inc. (NYSE:EDU) Stock Holdings Decreased by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 67,514 shares of the company’s stock after selling 1,954 shares during the period. Clearbridge Investments LLC’s holdings in New Oriental Education & Technology Group were worth $4,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after buying an additional 543,810 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in New Oriental Education & Technology Group during the 3rd quarter worth about $27,425,000. Green Court Capital Management Ltd purchased a new position in New Oriental Education & Technology Group during the 4th quarter valued at about $21,152,000. Panview Capital Ltd acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $27,358,000. Finally, Erste Asset Management GmbH acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $1,264,000.

New Oriental Education & Technology Group Stock Performance

EDU opened at $47.78 on Friday. The stock has a 50-day moving average of $49.40 and a 200-day moving average of $58.40. New Oriental Education & Technology Group Inc. has a 52-week low of $44.46 and a 52-week high of $91.04. The company has a market cap of $8.11 billion, a PE ratio of 20.33 and a beta of 0.47.

Wall Street Analysts Forecast Growth

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

New Oriental Education & Technology Group Company 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.