Massachusetts Financial Services Co. MA Raises Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Massachusetts Financial Services Co. MA boosted its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 12.9% during the third quarter, Holdings Channel.com reports. The firm owned 99,858 shares of the company’s stock after buying an additional 11,423 shares during the period. Massachusetts Financial Services Co. MA’s holdings in New Oriental Education & Technology Group were worth $7,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of New Oriental Education & Technology Group in the second quarter worth approximately $43,000. Ashton Thomas Private Wealth LLC purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at $50,000. Blue Trust Inc. grew its holdings in New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after acquiring an additional 712 shares during the last quarter. Hancock Whitney Corp purchased a new position in shares of New Oriental Education & Technology Group in the second quarter valued at about $212,000. Finally, QRG Capital Management Inc. raised its stake in shares of New Oriental Education & Technology Group by 7.4% during the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock valued at $285,000 after acquiring an additional 254 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on EDU. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup cut their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $58.58 on Wednesday. The company has a 50-day simple moving average of $65.35 and a two-hundred day simple moving average of $70.28. The firm has a market capitalization of $9.94 billion, a PE ratio of 25.00 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a one year low of $54.00 and a one year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.