New Oriental Education & Technology Group, Inc. $EDU Shares Sold by Discerene Group LP

Discerene Group LP decreased its position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 3.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,885,823 shares of the company’s stock after selling 69,607 shares during the period. New Oriental Education & Technology Group makes up about 11.3% of Discerene Group LP’s investment portfolio, making the stock its 3rd biggest position. Discerene Group LP’s holdings in New Oriental Education & Technology Group were worth $106,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new position in New Oriental Education & Technology Group in the 2nd quarter valued at about $221,000. Sei Investments Co. increased its position in shares of New Oriental Education & Technology Group by 46.6% during the second quarter. Sei Investments Co. now owns 5,122 shares of the company’s stock worth $276,000 after acquiring an additional 1,629 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of New Oriental Education & Technology Group in the second quarter worth about $378,000. Quantinno Capital Management LP boosted its holdings in New Oriental Education & Technology Group by 168.2% in the second quarter. Quantinno Capital Management LP now owns 13,215 shares of the company’s stock valued at $713,000 after purchasing an additional 8,287 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in New Oriental Education & Technology Group in the second quarter valued at about $111,000.

New Oriental Education & Technology Group Stock Down 0.1%

Shares of NYSE EDU opened at $49.30 on Friday. The stock’s 50 day moving average price is $47.29 and its two-hundred day moving average price is $53.23. New Oriental Education & Technology Group, Inc. has a 52-week low of $41.62 and a 52-week high of $64.97. The stock has a market capitalization of $7.79 billion, a P/E ratio of 18.89, a PEG ratio of 0.69 and a beta of 0.19.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on EDU. New Street Research set a $65.00 price objective on New Oriental Education & Technology Group in a report on Thursday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $67.00 to $65.00 in a report on Thursday, June 11th. Finally, Zacks Research downgraded shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.24.

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.