Farallon Capital Management LLC Reduces Position in New Oriental Education & Technology Group, Inc. $EDU

Farallon Capital Management LLC lessened its holdings in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 51.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 565,150 shares of the company’s stock after selling 590,000 shares during the quarter. Farallon Capital Management LLC’s holdings in New Oriental Education & Technology Group were worth $29,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Beijing Investment Ltd boosted its stake in New Oriental Education & Technology Group by 31.4% in the 3rd quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after purchasing an additional 2,231,169 shares during the period. Aspex Management HK Ltd increased its holdings in New Oriental Education & Technology Group by 18.8% during the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after acquiring an additional 1,106,716 shares during the period. Alkeon Capital Management LLC lifted its stake in New Oriental Education & Technology Group by 101.3% in the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after purchasing an additional 1,104,000 shares in the last quarter. Tiger Pacific Capital LP purchased a new stake in New Oriental Education & Technology Group in the 2nd quarter worth approximately $38,056,000. Finally, Norges Bank bought a new position in New Oriental Education & Technology Group in the 2nd quarter valued at $33,659,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EDU. New Street Research set a $68.00 price objective on New Oriental Education & Technology Group in a research report on Wednesday, January 28th. HSBC upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. 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. Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, China Renaissance upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of “Buy” and a consensus target price of $65.84.

New Oriental Education & Technology Group Trading Up 0.7%

Shares of NYSE EDU opened at $53.88 on Monday. The stock’s 50-day moving average is $57.51 and its 200 day moving average is $55.18. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 0.92 and a beta of 0.28. New Oriental Education & Technology Group, Inc. has a 1-year low of $40.66 and a 1-year high of $64.97.

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