Renaissance Technologies LLC Has $166.94 Million Position in New Oriental Education & Technology Group, Inc. $EDU

Renaissance Technologies LLC lessened its holdings in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 1.8% in the first quarter, HoldingsChannel.com reports. The firm owned 2,947,864 shares of the company’s stock after selling 54,800 shares during the period. Renaissance Technologies LLC’s holdings in New Oriental Education & Technology Group were worth $166,938,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of New Oriental Education & Technology Group by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock valued at $186,000 after buying an additional 324 shares in the last quarter. Vident Advisory LLC increased its position in shares of New Oriental Education & Technology Group by 8.2% during the fourth quarter. Vident Advisory LLC now owns 5,939 shares of the company’s stock worth $327,000 after acquiring an additional 449 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of New Oriental Education & Technology Group by 11.5% in the 4th quarter. Ieq Capital LLC now owns 4,760 shares of the company’s stock worth $262,000 after acquiring an additional 492 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after acquiring an additional 512 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in New Oriental Education & Technology Group by 3.9% during the 4th quarter. Profund Advisors LLC now owns 19,945 shares of the company’s stock valued at $1,098,000 after purchasing an additional 750 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on EDU. The Goldman Sachs Group raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $67.00 to $65.00 in a report on Thursday, June 11th. Zacks Research lowered New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday. Finally, New Street Research set a $65.00 price target on New Oriental Education & Technology Group in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Moderate Buy” and an average price target of $66.24.

New Oriental Education & Technology Group Stock Down 0.1%

EDU stock opened at $49.30 on Friday. The firm has a market cap of $7.79 billion, a PE ratio of 18.89, a P/E/G ratio of 0.69 and a beta of 0.19. The business has a 50 day moving average of $47.29 and a 200-day moving average of $53.23. New Oriental Education & Technology Group, Inc. has a 12-month low of $41.62 and a 12-month high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $1.42 billion during the quarter. New Oriental Education & Technology Group had a return on equity of 11.67% and a net margin of 7.82%. On average, research analysts expect that New Oriental Education & Technology Group, Inc. will post 3.14 earnings per share for the current year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.