Erste Asset Management GmbH Buys New Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Erste Asset Management GmbH purchased a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,000 shares of the company’s stock, valued at approximately $1,264,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aspex Management HK Ltd grew its holdings in shares of New Oriental Education & Technology Group by 46.7% in the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after purchasing an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after buying an additional 989,536 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 worth $62,703,000 after buying an additional 543,810 shares during the last quarter. Panview Capital Ltd acquired a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $27,358,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of New Oriental Education & Technology Group in the third quarter valued at approximately $27,425,000.

New Oriental Education & Technology Group Stock Up 5.6 %

Shares of NYSE EDU opened at $50.74 on Friday. New Oriental Education & Technology Group Inc. has a twelve month low of $44.46 and a twelve month high of $95.88. The company’s fifty day moving average is $52.18 and its 200-day moving average is $59.69. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 21.59 and a beta of 0.47.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EDU shares. Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered 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 reduced their price target for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Finally, Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock 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 given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.20.

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.