Insider Selling: New Oriental Education & Technology Group (NYSE:EDU) Director Sells $95,280.00 in Stock

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Yue Zhuge sold 1,600 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $119,100. The trade was a 44.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

New Oriental Education & Technology Group Price Performance

EDU stock traded up $0.22 during mid-day trading on Monday, reaching $59.11. 1,283,126 shares of the company’s stock were exchanged, compared to its average volume of 900,449. New Oriental Education & Technology Group, Inc. has a 12-month low of $44.25 and a 12-month high of $64.97. The stock’s 50 day moving average is $48.12 and its 200 day moving average is $53.10. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 0.62 and a beta of 0.24.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EDU. Caitong International Asset Management Co. Ltd grew its holdings in shares of New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after buying an additional 512 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of New Oriental Education & Technology Group by 106.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $31,000 after buying an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth about $72,000. Raymond James Financial Inc. acquired a new position in New Oriental Education & Technology Group during the second quarter worth about $111,000. Finally, Leonteq Securities AG acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth about $155,000.

Analyst Ratings Changes

A number of research firms have weighed in on EDU. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. Wall Street Zen cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.54.

About New Oriental Education & Technology Group

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.