Quantinno Capital Management LP Reduces Stock Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Quantinno Capital Management LP lowered its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 8.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,207 shares of the company’s stock after selling 311 shares during the quarter. Quantinno Capital Management LP’s holdings in New Oriental Education & Technology Group were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after buying an additional 206 shares during the period. Beverly Hills Private Wealth LLC grew its position in shares of New Oriental Education & Technology Group by 5.7% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,192 shares of the company’s stock valued at $326,000 after acquiring an additional 227 shares during the period. Profund Advisors LLC increased its stake in shares of New Oriental Education & Technology Group by 1.4% in the 2nd quarter. Profund Advisors LLC now owns 17,293 shares of the company’s stock worth $1,344,000 after purchasing an additional 231 shares in the last quarter. Ridgewood Investments LLC bought a new position in New Oriental Education & Technology Group in the 2nd quarter worth $43,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in New Oriental Education & Technology Group during the second quarter valued at $50,000.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $59.75 on Tuesday. The stock has a fifty day simple moving average of $62.91 and a two-hundred day simple moving average of $68.08. The firm has a market capitalization of $10.14 billion, a PE ratio of 25.53 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 52-week low of $54.00 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 30.5% on a year-over-year basis. On average, sell-side analysts forecast that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EDU. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com raised shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

About New Oriental Education & Technology Group

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.