Russell Investments Group Ltd. cut its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 45.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,378 shares of the company’s stock after selling 188,960 shares during the period. Russell Investments Group Ltd.’s holdings in New Oriental Education & Technology Group were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of EDU. Brilliance Asset Management Ltd. acquired a new position in New Oriental Education & Technology Group during the second quarter valued at $165,470,000. Invesco Ltd. lifted its position in New Oriental Education & Technology Group by 29.8% during the second quarter. Invesco Ltd. now owns 66,666,224 shares of the company’s stock valued at $545,996,000 after purchasing an additional 15,322,151 shares during the period. Carmignac Gestion acquired a new position in New Oriental Education & Technology Group during the second quarter valued at $81,247,000. DSM Capital Partners LLC raised its position in shares of New Oriental Education & Technology Group by 512.1% in the second quarter. DSM Capital Partners LLC now owns 9,556,656 shares of the company’s stock worth $78,269,000 after acquiring an additional 7,995,260 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of New Oriental Education & Technology Group by 67.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 18,894,330 shares of the company’s stock worth $154,745,000 after acquiring an additional 7,632,930 shares during the period. Institutional investors own 52.69% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.10.
EDU stock opened at $1.43 on Tuesday. The stock has a market capitalization of $2.43 billion, a P/E ratio of 7.08 and a beta of 0.87. The firm has a 50-day simple moving average of $1.94 and a 200-day simple moving average of $2.24. New Oriental Education & Technology Group Inc. has a 52 week low of $1.22 and a 52 week high of $19.97.
New Oriental Education & Technology Group 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: K-12 AST, Test Preparation and Other Courses; Online Education; and Others. The company was founded by Min Hong Yu and Yong Qiang Qian on November 16, 1993 and is headquartered in Beijing, China.
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