Handelsbanken Fonder AB Sells 13,800 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Handelsbanken Fonder AB cut its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 17.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,500 shares of the company’s stock after selling 13,800 shares during the period. Handelsbanken Fonder AB’s holdings in New Oriental Education & Technology Group were worth $4,800,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in New Oriental Education & Technology Group by 92.7% in the third quarter. FMR LLC now owns 6,631,500 shares of the company’s stock valued at $388,274,000 after acquiring an additional 3,189,254 shares in the last quarter. Sylebra Capital LLC acquired a new stake in New Oriental Education & Technology Group in the third quarter valued at approximately $63,935,000. Schroder Investment Management Group boosted its stake in New Oriental Education & Technology Group by 22.8% in the third quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock valued at $239,730,000 after acquiring an additional 760,062 shares in the last quarter. WT Asset Management Ltd boosted its stake in New Oriental Education & Technology Group by 48.9% in the third quarter. WT Asset Management Ltd now owns 1,899,128 shares of the company’s stock valued at $111,194,000 after acquiring an additional 623,435 shares in the last quarter. Finally, Ariose Capital Management Ltd acquired a new stake in New Oriental Education & Technology Group in the fourth quarter valued at approximately $30,631,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EDU shares. Citigroup lifted their price objective on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Morgan Stanley lifted their price objective on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.67.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock opened at $79.66 on Friday. The firm has a fifty day moving average price of $89.48 and a 200 day moving average price of $78.82. New Oriental Education & Technology Group Inc. has a 1 year low of $35.70 and a 1 year high of $98.20. The stock has a market cap of $13.52 billion, a PE ratio of 42.83 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The firm had revenue of $869.60 million during the quarter, compared to analyst estimates of $814.01 million. New Oriental Education & Technology Group had a return on equity of 8.20% and a net margin of 7.72%. The company’s revenue was up 36.3% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. As a group, equities analysts expect that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.