JPMorgan Chase & Co. Sells 241,404 Shares of New Oriental Education & Technology Group, Inc. $EDU

JPMorgan Chase & Co. lessened its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,087,849 shares of the company’s stock after selling 241,404 shares during the period. JPMorgan Chase & Co.’s holdings in New Oriental Education & Technology Group were worth $57,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of EDU. TD Waterhouse Canada Inc. increased its position in New Oriental Education & Technology Group by 2.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 9,108 shares of the company’s stock valued at $485,000 after buying an additional 218 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in New Oriental Education & Technology Group by 2.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,922 shares of the company’s stock worth $686,000 after buying an additional 300 shares during the last quarter. KBC Group NV raised its holdings in shares of New Oriental Education & Technology Group by 11.3% during the second quarter. KBC Group NV now owns 4,474 shares of the company’s stock worth $241,000 after purchasing an additional 454 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $37,000. Finally, Hantz Financial Services Inc. lifted its holdings in New Oriental Education & Technology Group by 738.0% in the second quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock valued at $49,000 after acquiring an additional 797 shares during the period.

Analysts Set New Price Targets

A number of research analysts have weighed in on EDU shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. China Renaissance upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $60.00 price target on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Buy” and an average target price of $65.84.

New Oriental Education & Technology Group Trading Down 5.2%

Shares of EDU stock opened at $56.97 on Thursday. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $64.97. The company has a market cap of $9.00 billion, a P/E ratio of 24.14, a PEG ratio of 1.03 and a beta of 0.27. The firm has a fifty day moving average price of $57.99 and a 200 day moving average price of $54.57.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, January 28th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.11. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.