New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,284 shares of the company’s stock after purchasing an additional 1,496 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in New Oriental Education & Technology Group were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its holdings in shares of New Oriental Education & Technology Group by 19.8% in the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock valued at $3,896,000 after buying an additional 8,499 shares during the period. JPMorgan Chase & Co. raised its position in New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after acquiring an additional 543,810 shares in the last quarter. Monolith Management Ltd acquired a new position in New Oriental Education & Technology Group in the third quarter valued at approximately $15,168,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in New Oriental Education & Technology Group by 3.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after purchasing an additional 19,401 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of New Oriental Education & Technology Group by 12.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after purchasing an additional 11,423 shares during the period.

New Oriental Education & Technology Group Stock Up 3.3 %

EDU opened at $49.97 on Tuesday. New Oriental Education & Technology Group Inc. has a twelve month low of $44.46 and a twelve month high of $98.20. The company has a market cap of $8.48 billion, a PE ratio of 21.27 and a beta of 0.42. The company has a 50-day moving average price of $57.93 and a 200 day moving average price of $62.49.

Analysts Set New Price Targets

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