Candriam Luxembourg S.C.A. Takes $1.41 Million Position in New Oriental Education & Tech Grp (EDU)

Candriam Luxembourg S.C.A. purchased a new stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,000 shares of the company’s stock, valued at approximately $1,406,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. grew its position in New Oriental Education & Tech Grp by 121.5% during the second quarter. Advisors Asset Management Inc. now owns 1,296 shares of the company’s stock valued at $123,000 after acquiring an additional 711 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in New Oriental Education & Tech Grp during the second quarter valued at approximately $187,000. Wedbush Securities Inc. bought a new position in New Oriental Education & Tech Grp during the second quarter valued at approximately $218,000. HMS Capital Management LLC bought a new position in New Oriental Education & Tech Grp during the second quarter valued at approximately $251,000. Finally, 180 Wealth Advisors LLC bought a new position in New Oriental Education & Tech Grp during the second quarter valued at approximately $257,000. Institutional investors and hedge funds own 90.87% of the company’s stock.

Shares of New Oriental Education & Tech Grp stock opened at $52.94 on Friday. New Oriental Education & Tech Grp has a 52-week low of $51.21 and a 52-week high of $108.40. The company has a market capitalization of $7.78 billion, a PE ratio of 28.31, a PEG ratio of 0.85 and a beta of 1.38.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its earnings results on Tuesday, October 23rd. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. New Oriental Education & Tech Grp had a net margin of 9.86% and a return on equity of 15.47%. The firm had revenue of $859.80 million for the quarter, compared to analysts’ expectations of $839.68 million. During the same quarter last year, the business earned $1.02 earnings per share. The business’s revenue was up 30.0% on a year-over-year basis. On average, research analysts forecast that New Oriental Education & Tech Grp will post 1.94 EPS for the current fiscal year.

New Oriental Education & Tech Grp declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 23rd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

A number of research analysts have commented on EDU shares. ValuEngine cut shares of New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. Morgan Stanley cut shares of New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 2nd. CLSA upgraded shares of New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a report on Monday, October 15th. JPMorgan Chase & Co. cut their target price on shares of New Oriental Education & Tech Grp from $113.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, October 24th. Finally, Benchmark cut their target price on shares of New Oriental Education & Tech Grp from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $88.00.

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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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