Lbp Am Sa Buys Shares of 47,700 New Oriental Education & Technology Group Inc. (NYSE:EDU)

Lbp Am Sa bought a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,700 shares of the company’s stock, valued at approximately $3,061,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EDU. SBI Securities Co. Ltd. bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after buying an additional 206 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $138,000. Blue Trust Inc. raised its holdings in shares of New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after buying an additional 775 shares during the last quarter. Finally, RWC Asset Management LLP bought a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $258,000.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $50.74 on Friday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 21.59 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 1 year low of $44.46 and a 1 year high of $95.88. The firm’s 50 day moving average price is $51.94 and its two-hundred day moving average price is $59.55.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EDU. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. StockNews.com cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. Finally, Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.