Prudential Financial Inc. cut its stake in New Oriental Education Technology Group Inc. (NYSE: EDU – Get Rating ) by 12.4% in the third quarter, according to a recent SEC filing. The company owns 315,220 shares of the company’s stock after selling 44,570 shares during the period. As of its most recent SEC filing, Prudential Financial held a 0.19% stake in New Oriental Education Technology Group, worth $7,556,000.
Several other institutional investors have also recently changed their positions in EDU. Eaton Vance Management Company increased its holdings of New Oriental Education Technology Group by 306.7% in the first quarter. Eaton Vance Management now owns 22,543 shares of the company worth $26,000 after buying an additional 17,000 shares during that period. Quadrant Capital Group LLC purchased a new stake in New Oriental Education Technology Group for $42,000 in the second quarter. Royal Bank of Canada increased its holdings of New Oriental Education Technology Group by 13.6% in the first quarter. RBC now owns 44,215 shares of the company worth $51,000 after purchasing an additional 5,299 shares during that time period. James Investment Research Inc. purchased a new stake in New Oriental Education Technology Group for $76,000 in the third quarter. Finally, Vontobel Holding Ltd. boosted its position in New Oriental Education Technology Group by 34.7% in the first quarter. Vontobel Holding Ltd. now owns 89,235 shares of the company worth $103,000 after purchasing an additional 22,996 shares during that period. 67.55% of the shares are held by hedge funds and other institutional investors.
Shares of New Oriental Education Technology Group rose 1.2 percent
NYSE: EDU opened at $42.64 on Wednesday. New Oriental Education & Technology Group Inc. had a 1-year low of $8.40 and a 1-year high of $46.63. The company’s 50-day simple moving average is $36.25 and its 200-day simple moving average is $29.16. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of -94.75, and a beta of 0.51.
New Oriental Education Technology Group (NYSE: EDU – Get Rating ) released its latest quarterly earnings results on Tuesday, January 17th. The company reported earnings per share (EPS) of $0.10 for the quarter, missing the consensus estimate of $0.22 ($0.12). The company’s revenue for the quarter came in at $638.20 million, compared with analyst estimates of $614.16 million. The return on equity of New Oriental Education Technology Group was negative 6.32%, and the net profit margin was negative 9.72%. Revenue from the business fell 3.0% year-over-year in the quarter. During the same quarter in the prior year, the company earned $1.00 per share. As a whole, analysts expect New Oriental Education Technology Group Inc to post earnings per share of 0.68 for the fiscal year.
Analyst Promotions and Demotions
A number of brokerages have recently weighed in on EDU. TheStreet downgraded New Oriental Education Technology Group from a ‘c-‘ rating to a ‘d’ rating in a research report on Monday, November 21st. StockNews.com first reported on shares of New Oriental Education Technology Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has assigned a hold rating to the stock and seven have issued a buy rating on the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.60.
About New Oriental Education Technology Group
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New Oriental Education Technology Group Co., Ltd. is a holding company engaged in the provision of private education services. It operates through the following segments: Education Services and Test Preparation Programs; Online Education and Other Services; Study Abroad Consulting Services; and Others.
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