Seldon Capital LP Sells 75,248 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Seldon Capital LP reduced its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 54.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,695 shares of the company’s stock after selling 75,248 shares during the quarter. New Oriental Education & Technology Group accounts for approximately 2.7% of Seldon Capital LP’s investment portfolio, making the stock its 15th largest holding. Seldon Capital LP’s holdings in New Oriental Education & Technology Group were worth $4,831,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EDU. Citigroup Inc. increased its holdings in New Oriental Education & Technology Group by 20.4% during the third quarter. Citigroup Inc. now owns 803,508 shares of the company’s stock valued at $60,938,000 after buying an additional 136,138 shares during the period. Massachusetts Financial Services Co. MA boosted its position in New Oriental Education & Technology Group by 12.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock valued at $7,573,000 after acquiring an additional 11,423 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of 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 acquiring an additional 19,401 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of New Oriental Education & Technology Group in the 3rd quarter worth $1,609,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth $316,000.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU opened at $57.36 on Friday. New Oriental Education & Technology Group Inc. has a fifty-two week low of $54.00 and a fifty-two week high of $98.20. The company has a market cap of $9.73 billion, a PE ratio of 24.51 and a beta of 0.49. The business has a 50-day simple moving average of $65.36 and a two-hundred day simple moving average of $70.54.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results 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 net margin of 8.38% and a return on equity of 9.43%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $0.99 EPS. New Oriental Education & Technology Group’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup cut 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 research note on Friday, August 2nd. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

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.