Nomura Asset Management Co. Ltd. Lowers Holdings in New Oriental Education & Tech Grp (EDU)

Nomura Asset Management Co. Ltd. lessened its position in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 84.8% in the third quarter, HoldingsChannel.com reports. The fund owned 8,300 shares of the company’s stock after selling 46,161 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in New Oriental Education & Tech Grp were worth $614,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in shares of New Oriental Education & Tech Grp by 754.5% in the second quarter. Advisors Asset Management Inc. now owns 4,999 shares of the company’s stock worth $123,000 after buying an additional 4,414 shares during the period. Atlas Capital Advisors LLC purchased a new stake in shares of New Oriental Education & Tech Grp in the second quarter worth about $187,000. Wedbush Securities Inc. purchased a new stake in shares of New Oriental Education & Tech Grp in the second quarter worth about $218,000. HMS Capital Management LLC purchased a new stake in shares of New Oriental Education & Tech Grp in the second quarter worth about $251,000. Finally, 180 Wealth Advisors LLC purchased a new stake in shares of New Oriental Education & Tech Grp in the second quarter worth about $257,000. 90.87% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the company. ValuEngine downgraded New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. Morgan Stanley downgraded New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 2nd. CLSA raised New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a report on Monday, October 15th. Deutsche Bank downgraded New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating and reduced their price target for the company from $105.00 to $55.00 in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. reduced their price target on New Oriental Education & Tech Grp from $113.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.00.

Shares of EDU opened at $52.94 on Friday. The stock has a market capitalization of $7.55 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 0.83 and a beta of 1.38. New Oriental Education & Tech Grp has a one year low of $51.21 and a one year high of $108.40.

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

New Oriental Education & Tech Grp announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 23rd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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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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