Sycomore Asset Management Has $430,000 Stake in New Oriental Education & Tech Grp (NYSE:EDU)

Sycomore Asset Management reduced its position in New Oriental Education & Tech Grp (NYSE:EDU) by 55.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,817 shares of the company’s stock after selling 4,700 shares during the period. Sycomore Asset Management’s holdings in New Oriental Education & Tech Grp were worth $430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Blueprint LLC purchased a new stake in shares of New Oriental Education & Tech Grp during the 3rd quarter valued at $31,000. Stonebridge Capital Advisors LLC bought a new stake in shares of New Oriental Education & Tech Grp during the 2nd quarter valued at about $29,000. Rehmann Capital Advisory Group boosted its position in shares of New Oriental Education & Tech Grp by 145.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 312 shares of the company’s stock valued at $28,000 after acquiring an additional 185 shares during the last quarter. LSV Asset Management bought a new stake in New Oriental Education & Tech Grp in the 2nd quarter worth approximately $38,000. Finally, Commonwealth Bank of Australia bought a new stake in New Oriental Education & Tech Grp in the 2nd quarter worth approximately $38,000. Institutional investors own 86.46% of the company’s stock.

Several research firms have commented on EDU. JPMorgan Chase & Co. raised New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $88.00 to $143.00 in a report on Thursday. Citigroup reaffirmed a “buy” rating and set a $130.00 price target (up from $115.00) on shares of New Oriental Education & Tech Grp in a report on Thursday, October 10th. Zacks Investment Research raised New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, ValuEngine downgraded New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. New Oriental Education & Tech Grp currently has an average rating of “Buy” and a consensus price target of $101.77.

EDU traded up $1.74 during midday trading on Monday, reaching $115.56. The company had a trading volume of 38,746 shares, compared to its average volume of 1,150,402. The company has a quick ratio of 1.71, a current ratio of 1.73 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $111.54 and a two-hundred day moving average of $98.52. The company has a market cap of $16.38 billion, a P/E ratio of 77.04, a P/E/G ratio of 1.18 and a beta of 1.46. New Oriental Education & Tech Grp has a 1 year low of $50.30 and a 1 year high of $117.41.

New Oriental Education & Tech Grp (NYSE:EDU) last released its earnings results on Tuesday, July 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.39). The business had revenue of $842.90 million for the quarter, compared to analysts’ expectations of $833.78 million. New Oriental Education & Tech Grp had a return on equity of 12.97% and a net margin of 7.69%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. On average, equities research analysts predict that New Oriental Education & Tech Grp will post 2.95 EPS for the current year.

About New Oriental Education & Tech Grp

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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