Ninety One UK Ltd Acquires 1,669,279 Shares of New Oriental Education & Technology Group, Inc. $EDU

Ninety One UK Ltd acquired a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the third quarter, Holdings Channel reports. The firm acquired 1,669,279 shares of the company’s stock, valued at approximately $92,628,000.

Several other large investors have also bought and sold shares of EDU. EverSource Wealth Advisors LLC grew its position in shares of New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $31,000 after buying an additional 279 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of New Oriental Education & Technology Group during the first quarter worth about $209,000. PNC Financial Services Group Inc. raised its position in shares of New Oriental Education & Technology Group by 14.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company’s stock worth $219,000 after acquiring an additional 500 shares during the last quarter. Assetmark Inc. raised its position in shares of New Oriental Education & Technology Group by 4,389.0% during the first quarter. Assetmark Inc. now owns 5,701 shares of the company’s stock worth $323,000 after acquiring an additional 5,574 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of New Oriental Education & Technology Group by 42.8% in the first quarter. KBC Group NV now owns 5,814 shares of the company’s stock worth $329,000 after acquiring an additional 1,743 shares during the period.

Wall Street Analyst Weigh In

EDU has been the topic of a number of recent analyst reports. Weiss Ratings raised New Oriental Education & Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, New Street Research set a $56.50 target price on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.17.

Insider Activity at New Oriental Education & Technology Group

In related news, Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the sale, the director owned 429,998 shares of the company’s stock, valued at $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the sale, the director owned 2,000 shares of the company’s stock, valued at approximately $119,100. The trade was a 44.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 72,170 shares of company stock valued at $4,100,348 in the last ninety days. 15.50% of the stock is currently owned by insiders.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock traded up $2.88 during mid-day trading on Thursday, hitting $60.46. The company’s stock had a trading volume of 583,722 shares, compared to its average volume of 786,944. The company has a market cap of $9.37 billion, a PE ratio of 20.48, a P/E/G ratio of 0.62 and a beta of 0.19. The company’s fifty day simple moving average is $56.42 and its 200-day simple moving average is $52.85. New Oriental Education & Technology Group, Inc. has a 52 week low of $44.25 and a 52 week high of $64.97.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group is a China-based education services provider founded in 1993 by Michael Yu. The company offers educational programs and services for students, families and adult learners, with operations focused primarily on China.

Its business activities have included test preparation for international examinations, overseas study consulting, language training, online education and educational materials. New Oriental has also provided tutoring and other education services for students in primary and secondary school, as well as programs designed to support domestic academic development and professional skills.

The company serves customers through learning centers, schools and digital platforms across multiple regions of China.