XY Capital Ltd Sells 34,250 Shares of New Oriental Education & Technology Group, Inc. $EDU

XY Capital Ltd cut its holdings in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 71.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,620 shares of the company’s stock after selling 34,250 shares during the quarter. New Oriental Education & Technology Group comprises approximately 0.6% of XY Capital Ltd’s holdings, making the stock its 22nd biggest position. XY Capital Ltd’s holdings in New Oriental Education & Technology Group were worth $625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EDU. B. Metzler seel. Sohn & Co. AG increased its stake in shares of New Oriental Education & Technology Group by 10.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company’s stock worth $729,000 after purchasing an additional 1,555 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at approximately $585,000. Amundi lifted its stake 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 valued at $28,755,000 after buying an additional 63,845 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after buying an additional 279 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in New Oriental Education & Technology Group by 27.9% in the 1st quarter. Quantinno Capital Management LP now owns 48,862 shares of the company’s stock worth $2,767,000 after buying an additional 10,669 shares during the period.

New Oriental Education & Technology Group Stock Performance

NYSE:EDU opened at $59.30 on Friday. New Oriental Education & Technology Group, Inc. has a 52-week low of $44.25 and a 52-week high of $64.97. The stock has a fifty day moving average of $53.16 and a 200 day moving average of $52.76. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 0.63 and a beta of 0.23.

Insider Activity

In other news, Director Yue Zhuge sold 1,600 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $119,100. The trade was a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the transaction, the director owned 429,998 shares in the company, valued at approximately $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 72,170 shares of company stock worth $4,100,348. Insiders own 15.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EDU shares. Weiss Ratings reissued a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. Wall Street Zen lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $67.00 to $65.00 in a research note on Thursday, June 11th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.54.

New Oriental Education & Technology Group 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.