10,000 Shares in New Oriental Education & Technology Group Inc. (NYSE:EDU) Acquired by Alpine Investment Management Ltd

Alpine Investment Management Ltd acquired a new stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,000 shares of the company’s stock, valued at approximately $642,000. New Oriental Education & Technology Group accounts for 0.2% of Alpine Investment Management Ltd’s portfolio, making the stock its 8th largest holding.

Other large investors have also made changes to their positions in the company. Westpac Banking Corp purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth $45,000. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $51,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of New Oriental Education & Technology Group by 14.2% in the 3rd 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. Empowered Funds LLC purchased a new stake in shares of New Oriental Education & Technology Group in the fourth quarter worth about $138,000. Finally, Blue Trust Inc. grew its holdings in New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after acquiring an additional 775 shares during the period.

New Oriental Education & Technology Group Stock Down 6.5 %

EDU opened at $44.66 on Friday. The firm’s fifty day simple moving average is $49.36 and its two-hundred day simple moving average is $58.30. New Oriental Education & Technology Group Inc. has a 52-week low of $43.34 and a 52-week high of $91.04. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 19.00 and a beta of 0.37.

Analysts Set New Price Targets

Several equities research analysts have commented on EDU shares. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $83.00 to $50.00 in a research report on Friday, January 24th. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Hold” and an average price target of $61.20.

About New Oriental Education & Technology Group

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.