Elephas Investment Management Ltd Buys Shares of 443,707 New Oriental Education & Tech Grp (EDU)

Elephas Investment Management Ltd acquired a new position in shares of New Oriental Education & Tech Grp (NYSE:EDU) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 443,707 shares of the company’s stock, valued at approximately $39,974,000. New Oriental Education & Tech Grp accounts for about 5.5% of Elephas Investment Management Ltd’s portfolio, making the stock its 6th largest position.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp lifted its holdings in shares of New Oriental Education & Tech Grp by 25.4% during the 4th quarter. M&T Bank Corp now owns 39,141 shares of the company’s stock worth $2,145,000 after acquiring an additional 7,938 shares during the period. Guinness Atkinson Asset Management Inc lifted its holdings in shares of New Oriental Education & Tech Grp by 9.0% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 132,340 shares of the company’s stock worth $7,253,000 after acquiring an additional 10,940 shares during the period. First Foundation Advisors lifted its holdings in shares of New Oriental Education & Tech Grp by 57.1% during the 4th quarter. First Foundation Advisors now owns 30,000 shares of the company’s stock worth $1,644,000 after acquiring an additional 10,900 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of New Oriental Education & Tech Grp by 76.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,393,505 shares of the company’s stock worth $76,372,000 after acquiring an additional 603,600 shares during the period. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of New Oriental Education & Tech Grp by 29.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 226,969 shares of the company’s stock worth $12,440,000 after acquiring an additional 50,997 shares during the period. Institutional investors and hedge funds own 87.34% of the company’s stock.

EDU opened at $81.17 on Friday. The company has a market cap of $12.05 billion, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 1.54 and a beta of 1.59. New Oriental Education & Tech Grp has a 1 year low of $50.30 and a 1 year high of $108.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 1.61.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its earnings results on Tuesday, April 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.14. The firm had revenue of $796.70 million during the quarter, compared to the consensus estimate of $788.52 million. New Oriental Education & Tech Grp had a net margin of 8.80% and a return on equity of 14.88%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, analysts expect that New Oriental Education & Tech Grp will post 1.7 earnings per share for the current year.

Several research analysts have recently weighed in on EDU shares. Morgan Stanley upgraded shares of New Oriental Education & Tech Grp from an “equal weight” rating to an “overweight” rating and set a $81.75 price objective on the stock in a report on Monday, March 25th. ValuEngine raised shares of New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Deutsche Bank raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Zacks Investment Research raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “strong-buy” rating and set a $95.00 target price for the company in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. downgraded shares of New Oriental Education & Tech Grp from an “overweight” rating to a “neutral” rating and set a $76.64 target price for the company. in a research report on Monday, February 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $90.37.

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New Oriental Education & Tech Grp Company Profile

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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