Panview Capital Ltd Acquires New Shares in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Panview Capital Ltd acquired a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the fourth quarter, Holdings Channel reports. The fund acquired 426,272 shares of the company’s stock, valued at approximately $27,358,000. New Oriental Education & Technology Group comprises about 5.8% of Panview Capital Ltd’s holdings, making the stock its 6th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares during the last quarter. Blue Trust Inc. lifted 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 valued at $160,000 after acquiring an additional 1,249 shares during the last quarter. Empowered Funds LLC acquired a new position in New Oriental Education & Technology Group in the fourth quarter valued at approximately $138,000. Oppenheimer Asset Management Inc. acquired a new position in New Oriental Education & Technology Group in the third quarter valued at approximately $297,000. Finally, Hancock Whitney Corp lifted its holdings in New Oriental Education & Technology Group by 49.4% in the third quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock valued at $309,000 after acquiring an additional 1,348 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on EDU shares. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, Citigroup cut 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 research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given 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 a consensus price target of $61.20.

New Oriental Education & Technology Group Trading Down 3.2 %

Shares of NYSE EDU opened at $52.23 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of 22.22 and a beta of 0.42. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $98.20. The business’s fifty day simple moving average is $56.19 and its 200-day simple moving average is $61.69.

New Oriental Education & Technology Group Company 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.