Victory Capital Management Inc. cut its position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 18.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,825 shares of the company’s stock after selling 858 shares during the period. Victory Capital Management Inc.’s holdings in New Oriental Education & Technology Group were worth $270,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nippon Life Insurance Co. bought a new position in New Oriental Education & Technology Group during the second quarter valued at approximately $111,000. Tower Research Capital LLC TRC lifted its stake in shares of New Oriental Education & Technology Group by 64.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,319 shares of the company’s stock valued at $140,000 after purchasing an additional 905 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of New Oriental Education & Technology Group in the 1st quarter valued at approximately $205,000. Wetherby Asset Management Inc. bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $227,000. Finally, Atria Investments LLC bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $240,000. 76.38% of the stock is owned by institutional investors.

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Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) opened at 87.19 on Thursday. The stock has a market capitalization of $13.75 billion, a P/E ratio of 50.11 and a beta of 1.37. New Oriental Education & Technology Group, Inc. has a one year low of $37.16 and a one year high of $94.30. The stock has a 50 day moving average price of $82.52 and a 200 day moving average price of $71.61.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03). The company had revenue of $486.40 million for the quarter, compared to analyst estimates of $477.81 million. New Oriental Education & Technology Group had a return on equity of 17.02% and a net margin of 15.25%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Equities analysts forecast that New Oriental Education & Technology Group, Inc. will post $2.37 earnings per share for the current year.

The business also recently announced a special dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.45 per share. This is a boost from New Oriental Education & Technology Group’s previous special dividend of $0.40. The ex-dividend date is Friday, September 1st.

Several equities research analysts have recently issued reports on the company. J P Morgan Chase & Co lowered New Oriental Education & Technology Group from a “neutral” rating to an “underweight” rating and set a $82.00 price objective for the company. in a research note on Thursday, September 14th. Morgan Stanley assumed coverage on New Oriental Education & Technology Group in a research note on Friday, August 25th. They issued an “overweight” rating and a $100.00 price objective for the company. Zacks Investment Research raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Tuesday, July 18th. Benchmark Co. raised their price objective on New Oriental Education & Technology Group from $75.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, BidaskClub lowered New Oriental Education & Technology Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $81.82.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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