New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Pinpoint Asset Management Ltd

Pinpoint Asset Management Ltd reduced its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 40.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 365,861 shares of the company’s stock after selling 245,128 shares during the quarter. New Oriental Education & Technology Group comprises about 6.0% of Pinpoint Asset Management Ltd’s investment portfolio, making the stock its 5th biggest position. Pinpoint Asset Management Ltd owned 0.22% of New Oriental Education & Technology Group worth $27,747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EDU. Farallon Capital Management LLC increased its stake in New Oriental Education & Technology Group by 139.0% during the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after acquiring an additional 854,590 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of New Oriental Education & Technology Group by 19.8% during the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock worth $3,896,000 after purchasing an additional 8,499 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in New Oriental Education & Technology Group by 3.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after purchasing an additional 19,401 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in New Oriental Education & Technology Group in the third quarter valued at approximately $629,000. Finally, Monolith Management Ltd acquired a new position in New Oriental Education & Technology Group during the third quarter valued at approximately $15,168,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

New Oriental Education & Technology Group Trading Up 6.5 %

EDU opened at $63.84 on Wednesday. New Oriental Education & Technology Group Inc. has a twelve month low of $54.00 and a twelve month high of $98.20. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 27.28 and a beta of 0.46. The company has a fifty day simple moving average of $65.11 and a 200 day simple moving average of $69.20.

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

New Oriental Education & Technology Group Company 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.