Shah Capital Management Cuts Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Shah Capital Management lowered its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 473,682 shares of the company’s stock after selling 24,948 shares during the quarter. New Oriental Education & Technology Group comprises 8.0% of Shah Capital Management’s portfolio, making the stock its 4th largest position. Shah Capital Management owned approximately 0.28% of New Oriental Education & Technology Group worth $36,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of EDU. Price T Rowe Associates Inc. MD purchased a new position in New Oriental Education & Technology Group during the first quarter valued at $103,392,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in New Oriental Education & Technology Group by 141.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock worth $117,892,000 after acquiring an additional 942,392 shares in the last quarter. UBS Group AG grew its holdings in New Oriental Education & Technology Group by 557.4% in the fourth quarter. UBS Group AG now owns 862,911 shares of the company’s stock worth $63,234,000 after purchasing an additional 731,652 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of New Oriental Education & Technology Group by 37.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock valued at $173,997,000 after purchasing an additional 646,122 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its holdings in shares of New Oriental Education & Technology Group by 4,630.8% during the first quarter. Farallon Capital Management LLC now owns 615,000 shares of the company’s stock valued at $53,394,000 after purchasing an additional 602,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EDU shares. HSBC initiated coverage on New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They issued a “buy” rating and a $110.00 price target on the stock. Citigroup cut their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Trading Up 3.5 %

New Oriental Education & Technology Group stock opened at $61.25 on Wednesday. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 32.93 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 12 month low of $53.44 and a 12 month high of $98.20. The stock has a fifty day simple moving average of $67.81 and a two-hundred day simple moving average of $78.05.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.19). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. On average, equities research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a $0.58 dividend. The ex-dividend date is Monday, September 9th.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.