Ninety One North America Inc. Makes New $21.74 Million Investment in New Oriental Education & Technology Group, Inc. $EDU

Ninety One North America Inc. purchased a new stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 391,790 shares of the company’s stock, valued at approximately $21,740,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi lifted its holdings in shares of New Oriental Education & Technology Group by 14.4% during the 1st quarter. Amundi now owns 507,774 shares of the company’s stock worth $28,755,000 after acquiring an additional 63,845 shares during the period. Triata Capital Ltd boosted its holdings in New Oriental Education & Technology Group by 8.0% during the fourth quarter. Triata Capital Ltd now owns 396,786 shares of the company’s stock valued at $21,835,000 after purchasing an additional 29,412 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of New Oriental Education & Technology Group in the 1st quarter valued at approximately $18,528,000. Carmignac Gestion grew its stake in shares of New Oriental Education & Technology Group by 0.8% in the 2nd quarter. Carmignac Gestion now owns 368,392 shares of the company’s stock valued at $16,921,000 after purchasing an additional 3,006 shares during the period. Finally, Aubrey Capital Management Ltd bought a new stake in shares of New Oriental Education & Technology Group in the 1st quarter valued at approximately $9,888,000.

New Oriental Education & Technology Group Trading Up 5.3%

Shares of EDU traded up $3.06 during mid-day trading on Thursday, hitting $60.63. 574,209 shares of the company traded hands, compared to its average volume of 786,944. New Oriental Education & Technology Group, Inc. has a one year low of $44.25 and a one year high of $64.97. The business has a 50-day moving average of $56.42 and a 200 day moving average of $52.85. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 0.62 and a beta of 0.19.

Insider Activity at New Oriental Education & Technology Group

In other New Oriental Education & Technology Group news, Director Yue Zhuge sold 1,600 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $119,100. This represents a 44.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chenggang Zhou sold 56,948 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $56.83, for a total value of $3,236,354.84. Following the transaction, the director directly owned 429,998 shares in the company, valued at approximately $24,436,786.34. This represents a 11.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 72,170 shares of company stock valued at $4,100,348 in the last 90 days. 15.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EDU. Wall Street Zen cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised New Oriental Education & Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has an average rating of “Moderate Buy” and an average price target of $63.17.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group is a China-based education services provider founded in 1993 by Michael Yu. The company offers educational programs and services for students, families and adult learners, with operations focused primarily on China.

Its business activities have included test preparation for international examinations, overseas study consulting, language training, online education and educational materials. New Oriental has also provided tutoring and other education services for students in primary and secondary school, as well as programs designed to support domestic academic development and professional skills.

The company serves customers through learning centers, schools and digital platforms across multiple regions of China.