JPMorgan Chase & Co. Trims Position in New Oriental Education & Technology Group, Inc. $EDU

JPMorgan Chase & Co. trimmed its position in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 18.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,087,849 shares of the company’s stock after selling 241,404 shares during the period. JPMorgan Chase & Co.’s holdings in New Oriental Education & Technology Group were worth $57,732,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 worth $28,000 after purchasing an additional 512 shares during the period. Raymond James Financial Inc. purchased a new stake in New Oriental Education & Technology Group during the second quarter valued at approximately $111,000. Hantz Financial Services Inc. raised its position in New Oriental Education & Technology Group by 275.1% in the third quarter. Hantz Financial Services Inc. now owns 3,395 shares of the company’s stock worth $180,000 after acquiring an additional 2,490 shares during the period. Quantbot Technologies LP boosted its stake in shares of New Oriental Education & Technology Group by 309.7% during the 3rd quarter. Quantbot Technologies LP now owns 3,532 shares of the company’s stock worth $187,000 after acquiring an additional 2,670 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of New Oriental Education & Technology Group by 227.1% during the 3rd quarter. Brooklyn Investment Group now owns 3,820 shares of the company’s stock valued at $203,000 after acquiring an additional 2,652 shares during the period.

New Oriental Education & Technology Group Trading Up 0.7%

NYSE EDU opened at $56.94 on Friday. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $64.97. The stock has a market cap of $9.00 billion, a PE ratio of 24.13, a P/E/G ratio of 0.97 and a beta of 0.28. The stock’s 50 day moving average is $57.36 and its 200 day moving average is $55.29.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. On average, analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EDU has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. HSBC raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Zacks Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, New Street Research set a $68.00 price objective on shares of New Oriental Education & Technology Group in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $65.84.

New Oriental Education & Technology Group Profile

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.