RWC Asset Management LLP Purchases New Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

RWC Asset Management LLP bought a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,014 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 worth $126,000 after acquiring an additional 206 shares during the last quarter. Blue Trust Inc. boosted its holdings in New Oriental Education & Technology Group by 155.5% in the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock worth $160,000 after acquiring an additional 1,249 shares in the last quarter. Empowered Funds LLC acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at $138,000. Oppenheimer Asset Management Inc. bought a new stake in shares of New Oriental Education & Technology Group during the third quarter worth about $297,000. Finally, Hancock Whitney Corp increased its holdings in New Oriental Education & Technology Group by 49.4% during the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock worth $309,000 after purchasing an additional 1,348 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on EDU. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Finally, Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Price Performance

EDU opened at $52.23 on Monday. The firm has a market cap of $8.86 billion, a PE ratio of 22.22 and a beta of 0.42. New Oriental Education & Technology Group Inc. has a 1 year low of $44.46 and a 1 year high of $98.20. The stock has a 50-day moving average price of $56.19 and a 200-day moving average price of $61.64.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.