New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 289,420 shares of the company’s stock after purchasing an additional 25,000 shares during the period. New Oriental Education & Technology Group comprises 1.3% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 15th largest position. Harvest Fund Management Co. Ltd owned about 0.17% of New Oriental Education & Technology Group worth $21,935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Monolith Management Ltd purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter worth approximately $15,168,000. Citigroup Inc. boosted its stake in shares of New Oriental Education & Technology Group by 20.4% in the third quarter. Citigroup Inc. now owns 803,508 shares of the company’s stock worth $60,938,000 after acquiring an additional 136,138 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of New Oriental Education & Technology Group by 12.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after purchasing an additional 11,423 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in New Oriental Education & Technology Group by 3.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock valued at $44,940,000 after purchasing an additional 19,401 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in New Oriental Education & Technology Group in the 3rd quarter valued at $1,609,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup lowered their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Performance

NYSE EDU opened at $57.36 on Monday. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 24.51 and a beta of 0.49. The firm has a 50 day simple moving average of $65.36 and a 200-day simple moving average of $70.46. New Oriental Education & Technology Group Inc. has a one year low of $54.00 and a one year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. Equities analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

New Oriental Education & Technology Group Profile

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.