Lester Murray Antman dba SimplyRich Acquires New Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Lester Murray Antman dba SimplyRich acquired a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,023 shares of the company’s stock, valued at approximately $322,000.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 worth $126,000 after buying an additional 206 shares during the period. Empowered Funds LLC purchased a new position in New Oriental Education & Technology Group in the fourth quarter valued at $138,000. Blue Trust Inc. boosted its stake in shares of New Oriental Education & Technology Group by 155.5% in the 3rd quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after buying an additional 1,249 shares during the period. SG Americas Securities LLC purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $272,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in New Oriental Education & Technology Group in the third quarter worth approximately $297,000.

Analyst Ratings Changes

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

New Oriental Education & Technology Group Stock Up 9.2 %

Shares of NYSE EDU opened at $54.61 on Wednesday. The business has a 50-day moving average price of $57.75 and a 200 day moving average price of $62.36. The stock has a market cap of $9.27 billion, a PE ratio of 23.24 and a beta of 0.42. New Oriental Education & Technology Group Inc. has a 52-week low of $44.46 and a 52-week high of $98.20.

About New Oriental Education & Technology Group

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.